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

Prudenville, Michigan Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Prudenville, Michigan who are interested in getting debt financing.

Local Prudenville Business Lenders

Without further adieu, here's our list of small business banks in Prudenville.

Small Business Bank Recent SBA Loans
Chemical Bank  

Business Loan Providers for Prudenville Businesses

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

Small Business Bank Recent SBA Loans
Jpmorgan Chase Bank
Houston, TX
2
Jpmorgan Chase Bank
Phoenix, AZ
1
Unity Bank
Clinton, NJ
1

Prudenville Business Loan Advice

As a prerequisite to meeting with banks for a 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, define how the money will be used, 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 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan 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 the banks in our list are SBA lenders. Before meeting with the banker, you may want to get up to speed 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. To get started, we recommend you read Angel Investors.

Business Loan Sources for Other Cities in Michigan
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