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

Hanover Park, Illinois Business Loan

 
Loan Census SBA Loan Info

Raising money in Hanover Park, Illinois? If so, you'll want to talk to some of these small business lenders in Hanover Park.

We wrote this article for small business proprietors in Hanover Park, Illinois who are interested in getting a small business loan.

Local Hanover Park Business Lenders

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

Small Business Bank Recent SBA Loans
Charter One Bank  
First Eagle Bank 5
First Eagle National Bank  

Lenders for Hanover Park Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
3
Bank Of America
Charlotte, NC
1
Center Bank
Los Angeles, CA
1
Citibank
Las Vegas, NV
1
Harris National Association
Barrington, IL
1
Jpmorgan Chase Bank
Houston, TX
7
Nara Bank
Los Angeles, CA
2
National City Bank
Bannockburn, IL
1
National City Bank
Clarendon Hills, IL
1
National City Bank
Cleveland, OH
2
Rbs Citizens
Cleveland, OH
1
Rbs Citizens
Providence, RI
9
The Foster Bank
Chicago, IL
1
U.S. Bank National Association
Cincinnati, OH
2
Washington Mutual Bank
Henderson, NV
2

Hanover Park Business Loan Advice

As a prerequisite to meeting with banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the money is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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 are SBA lenders. 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 the ball rolling, we suggest you read Business Incubators.

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