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

Small Business Lenders in Walker, Minnesota

 
Loan Census SBA Loan Info

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

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

Local Walker Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Walker.

Small Business Bank Recent SBA Loans
Amer National Bank - Minnesota 4
American National Bank of MN  
Bank Forward 3
Centennial National Bank 1
First Federal Bank  
First National Bank Of Walker 2

SBA Lenders for Walker Businesses

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

Small Business Bank Recent SBA Loans
Bank Forward
Hannaford, ND
1
Bremer Bank
Saint Cloud, MN
2
Capital One
Mclean, VA
1
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Walker Businesses

Prior to reaching out to banks 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 intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the capital 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge 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. Before meeting with the banker, you may want to read up on 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 all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is 504 Loans.

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