Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Lowell, Indiana Small Business Loans

 
Loan Census SBA Loan Info

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

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

Local Lowell Banks

To help you learn more about local small business lenders, here's our list of small business banks in Lowell.

Small Business Bank Recent SBA Loans
Aurelios Pizza  
Centier Bank - Lowell Offices  
Demotte State Bank  

Other Lending Resources for Lowell Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Centier Bank
Crown Point, IN
3
Centier Bank
Merrillville, IN
1
Centier Bank
Whiting, IN
1
National City Bank
Indianapolis, IN
1

Lowell Bank Loan Tips

Prior to reaching out to banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the financing is to for an existing business, 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, you will likely be asked to to guarantee the loan 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 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 SBIR Funding.

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