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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Paris, Illinois

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Paris, Illinois who are interested in getting debt financing.

Local Paris Lending Resources

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

Small Business Bank Recent SBA Loans
Bank of America  
Citizens National Bank Of Paris  
Edgar Cnty Bank & Trust. 2
Edgar County Bank & Trust Co  
First Bank & Trust S B  
First Bank & Trust, S.b. 2

Other Lending Resources for Paris Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
National City Bank
Bannockburn, IL
1
Old National Bank
Terre Haute, IN
1

Tips for Getting a Business Loan in Paris

Before contacting lenders to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the lender.

Having a 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 secure the business with your personal assets, such as the equity in your home. 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

Business Loan Sources for Other Cities in Illinois
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