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

Palmyra, Wisconsin Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Palmyra, Wisconsin? If so, you'll want to talk to some of these small business lenders in Palmyra.

If you are hoping to get a small business loan and your business is based in Palmyra, Wisconsin, we've assembled a list of local small business banks that you should contact.

Local Palmyra Banks

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

Small Business Bank Recent SBA Loans
Palmyra State Bank 1

SBA Lenders for Palmyra Businesses

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

Small Business Bank Recent SBA Loans
First Citizens State Bank
Whitewater, WI
1
Waukesha State Bank
Waukesha, WI
1

Palmyra Bank Loan Tips

Prior to reaching out to 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 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 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. 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

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read 504 Loans.

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