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

South West City, Missouri Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in South West City, Missouri are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in South West City, Missouri, we've assembled a list of local small business banks that you should contact.

Local South West City Banks

To assist you in finding a small business banker, here's our list of small business banks in South West City.

Small Business Bank Recent SBA Loans
The Corner Stone Bank 1

South West City Bank Loan Tips

Prior to contacting lenders 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the money is to for an existing business, 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan 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 these banks 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

If you are new to our Gaebler.com site, you should know that we are passionate about helping entrepreneurs, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is 504 Loans.

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