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

Business Loan Hot Springs, Montana

 
Loan Census SBA Loan Info

Looking for a Hot Springs, Montana 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 Hot Springs, Montana who are interested in getting a bank loan.

Local Hot Springs Lending Resources

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

Small Business Bank Recent SBA Loans
Valley Bank of Ronan  

Banks that Lend to Hot Springs Businesses

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

Small Business Bank Recent SBA Loans
Rocky Mountain Bank
Plains, MT
1
Valley Bank Of Ronan
Ronan, MT
1

Tips for Getting a Business Loan in Hot Springs

Prior to reaching out to 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, define how the money will be used, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the loan 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 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. Before you sit down to talk with a small business banker, you may want to do your homework 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

Invest the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Credit Evaluation.

Business Loan Sources for Other Cities in Montana
Get a Business Loan in Helena
Get a Business Loan in Kalispell

Browse All Business Loan Sources for Montana