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

New Bloomfield, Missouri Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in New Bloomfield, Missouri seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in New Bloomfield, Missouri, we've put together a list of local small business banks that you should contact.

Lenders for New Bloomfield Businesses

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

Small Business Bank Recent SBA Loans
Exch National Bank - Jefferson City
Jefferson City, MO
2
Jefferson Bank Of Missouri
Jefferson City, MO
1
Regions Bank
Memphis, TN
1
The Central Trust Bank
Jefferson City, MO
4
U.S. Bank National Association
Cincinnati, OH
1

New Bloomfield Bank Loan Tips

Before meeting with banks to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

Having a business plan is essential. If the capital is to for a company that is already doing 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, the bank may ask you to to secure the business 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 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

Our Gaebler.com site is devoted to aiding small business owners, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we recommend you read Bank Credit Lines.

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