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

Lindenhurst, Illinois Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Lindenhurst, Illinois who are interested in getting a small business loan.

Local Lindenhurst Lending Resources

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

Small Business Bank Recent SBA Loans
Charter One Bank  
First American Bank  

Business Loan Providers for Lindenhurst Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
3
First American Bank
Carpentersville, IL
1
First Midwest Bank
Waukegan, IL
1
Innovative Bank
Oakland, CA
2
Jpmorgan Chase Bank
Houston, TX
2
National City Bank
Bannockburn, IL
1
Norstates Bank
Round Lake Beach, IL
1
Rbs Citizens
Providence, RI
1
Shorebank
Bellwood, IL
1
State Bank Of The Lakes
Antioch, IL
1

Lindenhurst Business Loan Advice

As a prerequisite to contacting banks 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the bank.

Having a business plan is essential. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, 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. Prior to visiting local banks, 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

Make the effort and learn as much as you can about Raising Money. To get started, we suggest you read Business Line of Credit.

Business Loan Sources for Other Cities in Illinois
Get a Business Loan in Lincolnwood
Get a Business Loan in Lisle

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