Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Foley, Missouri

 
Loan Census SBA Loan Info

Looking for a Foley, Missouri small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Foley, Missouri, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Foley Businesses

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

Small Business Bank Recent SBA Loans
Commerce Bank
Kansas City, MO
3

Business Loan Advice for Foley Businesses

As a prerequisite to reaching out to lenders to discuss getting a bank loan, you will need to have a specific plan.

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 your ability to pay the loan back to the lender.

Having a business plan is an important prerequisite. 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 secure 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 secure the business with your personal assets, such as the equity in your home. The banks will check on your personal credit history 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 participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to get up to speed 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 suggest you read Attracting Investors.

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