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

Small Business Lenders in Urbana, Iowa

 
Loan Census SBA Loan Info

Small business loans in Urbana, Iowa 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 Urbana, Iowa, we've assembled a list of local small business banks that you should contact.

Local Urbana Lending Resources

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

Small Business Bank Recent SBA Loans
Norwest Bank  
Security State Bank  
Wells Fargo Bank NA - Offices- Cedar Rapids- Urbana Office  

Business Loan Providers for Urbana Businesses

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

Small Business Bank Recent SBA Loans
Community National Bank
Waterloo, IA
1
Dutrac Community Cu
Dubuque, IA
1

Business Loan Advice for Urbana Businesses

Before meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

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. 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, 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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