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

Gaylord, Minnesota Business Loan

 
Loan Census SBA Loan Info

Looking for a Gaylord, Minnesota 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.

We wrote this article for small business owners in Gaylord, Minnesota who are interested in getting debt financing.

Local Gaylord Lenders

To assist you in finding a small business banker, here's our list of small business banks in Gaylord.

Small Business Bank Recent SBA Loans
First National Bank Minnesota 3
First National Bank of St Peter - Gaylord Office  
First National Bank of St Peter - Weatherfone  
Progrowth Bank 3
The First National Bank of St Peter  

Lenders for Gaylord Businesses

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

Small Business Bank Recent SBA Loans
First National Bank Minnesota
Saint Peter, MN
1
Kleinbank
Big Lake, MN
1
Wells Fargo Bank
Minneapolis, MN
1

Gaylord Business Loan Advice

Before contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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. Prior to visiting local banks, you may want to read up on 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

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