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

Utica, Michigan Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Utica, Michigan! 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 Utica, Michigan, we've put together a list of local small business banks that you should contact.

Local Utica Banks

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

Small Business Bank Recent SBA Loans
Bank One  
Fifth Third Bank - Branches  

SBA Lenders for Utica Businesses

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

Small Business Bank Recent SBA Loans
Bank Of The West
San Francisco, CA
1
Capital One
Mclean, VA
1
Citizens Bank
Lansing, MI
2
Comerica Bank
Dallas, TX
2
Fifth Third Bank
Grand Rapids, MI
2
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Jpmorgan Chase Bank
Chicago, IL
1
Jpmorgan Chase Bank
Houston, TX
10
Lasalle Bank Midwest
Lansing, MI
1
Lasalle Bank Midwest
Troy, MI
1
Macomb Community Bank
Clinton Township, MI
1
National City Bank
Bannockburn, IL
12
National City Bank
Cleveland, OH
1
Peoples State Bank
Hamtramck, MI
1
Rbs Citizens
Cleveland, OH
2
Rbs Citizens
Providence, RI
16
The Huntington National Bank
Canton, OH
1
The Huntington National Bank
Columbus, OH
2
Ups Capital Business Credit
Windsor, CT
3
Wells Fargo Bank
San Jose, CA
1

Utica Bank Loan Tips

As a prerequisite to meeting with banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the financing is to for a company that is already doing 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 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. 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read 504 Loans.

Business Loan Sources for Other Cities in Michigan
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