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

Stanton, North Dakota Small Business Loans

 
Loan Census SBA Loan Info

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

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

Local Stanton Business Lenders

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

Small Business Bank Recent SBA Loans
Union State Bank  

Lenders for Stanton Businesses

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

Small Business Bank Recent SBA Loans
Security 1st Bank - No. Dakota
Center, ND
1
Union State Bank
Hazen, ND
1

Stanton Bank Loan Tips

Prior to contacting lenders to get a bank 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the loan 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 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 secure the business with your personal assets, such as the equity in your home. 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

Invest the time to learn as much as you can about Raising Money. To get started, we recommend you read Realistic Debt Financing Options.

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