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

Laingsburg, Michigan Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Laingsburg, 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.

If you are planning on applying for a small business loan and your business is based in Laingsburg, Michigan, we've assembled a list of local small business banks that you should contact.

SBA Lenders for Laingsburg Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Fifth Third Bank
Grand Rapids, MI
3
National City Bank
Bannockburn, IL
1

Laingsburg Bank Loan Tips

Prior to contacting lenders for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

A well-defined business plan is an important prerequisite. If the money 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Business Incubators.

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