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

Maryville, Illinois Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Maryville, Illinois! If that's what's on your mind, you've come to the right place.

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

Local Maryville Banks

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

Small Business Bank Recent SBA Loans
First Mid-illinois Bank & Trust 4

Lenders for Maryville Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
First Clover Leaf Bank
Edwardsville, IL
4
First Mid-illinois Bank & Trust
Mattoon, IL
2
Partners Bank
Glen Carbon, IL
1
Regions Bank
Memphis, TN
1
The Bank Of Edwardsville
Edwardsville, IL
2

Maryville 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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the capital 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 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, the bank may ask you to 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 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 serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Credit Evaluation.

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