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

Pella, Iowa Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for entrepreneurs in Pella, Iowa who are interested in getting a small business loan.

Local Pella Banks

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

Small Business Bank Recent SBA Loans
F & M Bank  
Leighton State Bank 3
Marion County Bank  
Marion County State Bank 1
Midwestone Bank 1
Pella State Bank  
Wells Fargo  

Business Loan Providers for Pella Businesses

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

Small Business Bank Recent SBA Loans
Bankers Trust
Cedar Rapids, IA
1
Community So. Bank D.b.a Commun
Knoxville, TN
1
Lehman Brothers Bank, FSB
Boston, MA
1
Midwestone Bank
Oskaloosa, IA
1
Wells Fargo Bank
Minneapolis, MN
1
West Bank
West Des Moines, IA
1

Pella Business Loan Advice

Prior to contacting banks to discuss getting a bank 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 how you intend to to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. 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, 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 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 are SBA lenders. Prior to visiting local banks, 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

Our Gaebler.com site is deeply committed to helping small business owners, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Business Line of Credit.

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