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

Justice, Illinois Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Justice, Illinois are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Justice, Illinois, we've assembled a list of local small business banks that you should contact.

Other Lending Resources for Justice Businesses

This is a list of banks outside of Justice, Illinois that have provided SBA loans to Justice 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
2
Jpmorgan Chase Bank
Houston, TX
1
National City Bank
Bannockburn, IL
1
Rbs Citizens
Providence, RI
3
U.S. Bank National Association
Cincinnati, OH
1

Justice Bank Loan Tips

Before reaching out to banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Having a business plan is essential. If the financing 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 guarantee 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 to guarantee the loan with 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 these banks 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 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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