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

Grayling, Michigan Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Grayling, Michigan, we've assembled a list of local small business banks that you should contact.

Local Grayling Lenders

Without further adieu, here's our list of small business banks in Grayling.

Small Business Bank Recent SBA Loans
Chemical Bank 2
Citizens Bank  
Efmark Service CO  
Fifth Third Bank  
Flagstar Bank  
Huntington Bank  

Banks that Lend to Grayling Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
1
Capital One
Mclean, VA
1
Citizens Bank
Lansing, MI
1
Fifth Third Bank
Cincinnati, OH
2
Jpmorgan Chase Bank
Houston, TX
1
Kent Commerce Bank
Kentwood, MI
1
Northwestern Bank
Traverse City, MI
1
The Huntington National Bank
Columbus, OH
6

Grayling Bank Loan Tips

Prior to meeting with banks 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, define how the money will be used, and show how you plan to pay the loan back to the bank.

Having a business plan is is critically important. If the financing 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, the bank may ask you to to pledge 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 meeting with the 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in Michigan
Get a Business Loan in Grandville
Get a Business Loan in Greenville

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