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

Small Business Lenders in River Grove, Illinois

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in River Grove, Illinois, we've assembled a list of local small business banks that you should contact.

Local River Grove Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in River Grove.

Small Business Bank Recent SBA Loans
ABN AMRO Mortgage  
Banco Popular River Grove  
Bank One - Banking Centers- River Grove  

Lenders for River Grove Businesses

This is a list of banks outside of River Grove, Illinois that have provided SBA loans to River Grove 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
3
Capital One
Mclean, VA
1
Jpmorgan Chase Bank
Houston, TX
1
National City Bank
Bannockburn, IL
2
National City Bank
Cleveland, OH
1
Rbs Citizens
Providence, RI
4
Shorebank
Bellwood, IL
1
U.S. Bank National Association
Cincinnati, OH
1
Washington Mutual Bank
Henderson, NV
2

Business Loan Advice for River Grove Businesses

Prior to contacting lenders 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Having a business plan is is critically important. If the financing 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 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 are SBA lenders. Before you sit down to talk with a small business 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

Make the effort and learn as much as you can about Raising Money. For starters, we recommend you read How Equity Dilution Works.

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