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March 29, 2024  
 
 
  Business Loan Information  
 

Hemlock, Michigan Business Loan

 
Loan Census SBA Loan Info

Looking for a Hemlock, Michigan 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.

These materials were prepared for entrepreneurs in Hemlock, Michigan who are interested in getting a bank loan.

Local Hemlock Lenders

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

Small Business Bank Recent SBA Loans
Bank One  
Citizens Bank  

Banks that Lend to Hemlock Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Jpmorgan Chase Bank
Houston, TX
1
Stearns Bank
Saint Cloud, MN
1

Hemlock Business Loan Advice

As a prerequisite to reaching out to banks for a 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is is critically important. If the loan is to for a going concern, 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, 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. 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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