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

Randolph, Wisconsin Business Loan

 
Loan Census SBA Loan Info

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

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

Local Randolph Lenders

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

Small Business Bank Recent SBA Loans
Markesan State Bank  
National Exchange Bank & Trust  

SBA Lenders for Randolph Businesses

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

Small Business Bank Recent SBA Loans
Community Bank & Trust
Sheboygan, WI
1

Randolph Business Loan Advice

As a prerequisite to meeting with banks to get 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 your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

Business Loan Sources for Other Cities in Wisconsin
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