Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Edwardsville, Illinois Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Edwardsville, Illinois seems challenging at first, but we're here to help you get started.

We wrote this article for small business owners in Edwardsville, Illinois who are interested in getting a small business loan.

Local Edwardsville Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Edwardsville.

Small Business Bank Recent SBA Loans
1st National Bank In Staunton 1
Bank Data Services  
Bank of America - in Grocery Stores- Belleville- Edwardsville- Schnucks Supermar  
FCB Edwardsville Bank  
First Bank  
First Clover Leaf Bank 40
First Community State Bank  
First Federal Savings & Loan of Edwardsville  
National Bank 1
The Banc Ed Corp 1
The Bank Of Edwardsville 12

Lenders for Edwardsville Businesses

This is a list of banks outside of Edwardsville, Illinois that have provided SBA loans to Edwardsville businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Associated Bank
Belleville, IL
1
Associated Bank
Fairview Heights, IL
1
Associated Bank
Glen Carbon, IL
1
Associated Bank
Green Bay, WI
2
Cit Small Business Lending Corp
Livingston, NJ
2
Comerica Bank
Dallas, TX
1
Commerce Bank
Kansas City, MO
2
First Bank
Swansea, IL
1
First Mid-illinois Bank & Trust
Maryville, IL
1
First Mid-illinois Bank & Trust
Mattoon, IL
1
Illinois National Bank
Springfield, IL
1
Midland States Bank
Effingham, IL
1
Partners Bank
Glen Carbon, IL
2
Pnc Bank, National Association
Philadelphia, PA
1
Regions Bank
Atlanta, GA
1
Regions Bank
Birmingham, AL
1
Regions Bank
Memphis, TN
1
Spectrum Bank
Irvine, CA
1
Stearns Bank
Saint Cloud, MN
1
U.S. Bank National Association
Cincinnati, OH
10

Edwardsville Business Loan Advice

As a prerequisite to meeting with banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list are SBA lenders. Before you sit down to talk with a small business banker, you may want to do your homework on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

Make it a priority to learn as much as you can about Raising Money. To get started, we recommend you read 504 Loans.

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