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

Business Loan Revere, Minnesota

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Revere, Minnesota who are interested in getting debt financing.

Other Lending Resources for Revere Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Capital One
Mclean, VA
1

Tips for Getting a Business Loan in Revere

As a prerequisite to meeting with banks for a loan, you will need to have a specific plan.

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 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to 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 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Realistic Debt Financing Options.

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