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

Small Business Lenders in Streamwood, Illinois

 
Loan Census SBA Loan Info

Getting a business loan in Streamwood, Illinois seems challenging at first, but we're here to help you get started.

If you are looking for a small business loan and your business is based in Streamwood, Illinois, we've put together a list of local small business banks that you should contact.

Local Streamwood Lenders

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

Small Business Bank Recent SBA Loans
America United Bank and Trust Company USA  
Bank One  
Citibank FSB  

Other Lending Resources for Streamwood Businesses

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

Small Business Bank Recent SBA Loans
American Enterprise Bank
Schaumburg, IL
1
Banco Popular North America
New York City, NY
1
Capital One
Mclean, VA
3
Citibank
Miami, FL
1
First Choice Bank
Geneva, IL
1
First Eagle Bank
Hanover Park, IL
1
First Midwest Bank
Tinley Park, IL
1
Harris National Association
Barrington, IL
1
Harris National Association
Bartlett, IL
1
Innovative Bank
Oakland, CA
2
Jpmorgan Chase Bank
Houston, TX
14
Lasalle Bank
Chicago, IL
3
Nara Bank
Los Angeles, CA
1
National City Bank
Bannockburn, IL
1
National City Bank
Cleveland, OH
6
Rbs Citizens
Providence, RI
5
Shorebank
Bellwood, IL
1
The Elgin State Bank
Elgin, IL
1
The Foster Bank
Chicago, IL
4
U.S. Bank National Association
Cincinnati, OH
1
Union National Bank
Elgin, IL
3
Washington Mutual Bank
Henderson, NV
3
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Streamwood Businesses

Before contacting banks to discuss getting 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

Having a business plan is is critically important. If the financing is to for an existing business, 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 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 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.

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