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

Small Business Lenders in Smithton, Missouri

 
Loan Census SBA Loan Info

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

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

Local Smithton Lenders

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

Small Business Bank Recent SBA Loans
Central Bank of Missouri  

Lenders for Smithton Businesses

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

Small Business Bank Recent SBA Loans
U.S. Bank National Association
Cincinnati, OH
1

Business Loan Advice for Smithton Businesses

Prior to reaching out to banks for a 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 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. 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 cash flow from the business does not meet your projections.

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 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

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 Missouri
Get a Business Loan in Sikeston
Get a Business Loan in Smithville

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