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

Raymondville, Missouri Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Raymondville, Missouri who are interested in getting a bank loan.

Local Raymondville Banks

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

Small Business Bank Recent SBA Loans
First National Bank  

Other Lending Resources for Raymondville Businesses

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

Small Business Bank Recent SBA Loans
Mid America Bank & Trust
Dixon, MO
1

Raymondville Business Loan Advice

As a prerequisite to meeting with 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, define how the money will be used, and show your ability to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 pledge 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 the banks in our list participate in the financial assistance programs available through the SBA. 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

If you are new to our Gaebler.com site, you should know that we are devoted to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Microlending as a Small Business Funding Source.

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