SmartBiz Loans
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National Business Capital & Services
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Currency
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Security National Bank
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Siouxland Bank
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Primebank
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Great Western Bank
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Great Southern Bank
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Northwest Bank
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There are a wide variety of lenders and options for business owners in Sioux City. Finding the right lender, with fair rates and a good reputation, takes a little bit of time but can make a significant difference in the overall cost of taking out a business loan. When comparing different options, look at the term lengths, available loan amounts, types of loans, interest rates and annual percentage rates (APR).
The types of business loans in Sioux City include the following:
Business owners may also consider options like microloans, invoice financing or acquisition loans if they have specific needs that aren’t covered by any of the loans above. A lender will help you compare these types of loans to help figure out which is available for your business. Before signing for a loan, make sure to read over the loan agreement carefully.
Before you get a business loan, a bank or lender is going to look in-depth at the financials and history of the business. It will examine credit history as well. Before you apply for a business loan in Sioux City, gather your financial records, including tax returns, and examine your business credit report and individual credit history for accuracy.
Apply for business loans with various lenders in Sioux City to find terms that are most in your favor. Make sure you start early: The process from application to funding can take weeks to months to complete.
What is a 7(a) loan?
A 7(a) loan is a main loan option offered by the Small Business Administration. Loans are available up to $5 million. Full terms and rates vary depending on your situation.
How do I get money to start a business?
You can get money to start a business in a few ways. Business loans are the most common option. You can also use a credit card or use your own personal savings.
What are typical business loan terms?
It depends on the type of loan. SBA loans are usually between five and 25 years, while short-term loans are between three and 18 months. Long-term loans and equipment financing terms are usually between one and 10 years. Interest rates vary depending on the type of loan and your business performance and creditworthiness.
What business development resources exist in Sioux City?
Organizations that provide resources to Sioux City businesses include IASourceLink and Startup Sioux City. For entrepreneurs who want to expand their skill set, Venture School offers courses.
SmartBiz Loans |
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SmartBiz Loans offers bank term loans, SBA loans, business real estate loans, business credit cards and lines of credit. Loan amounts start at $30,000 for SBA loans, with interest rates starting at 5%. After approval, funding is available in as little as a week. SmartBiz Loans offers loan amounts up to $5 million. |
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National Business Capital & Services |
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National Business Capital & Services matches customers with one of its 75-plus lenders through an online sorting and comparison process, offering many types of business loans. The company offers additional business services like bookkeeping. National Business Capital & Services connects customers to loans of up to $5 million. |
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Currency |
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Currency offers equipment financing options for businesses through its CurrencyFinance program. Some businesses may receive 0% financing. Customers say its approval process is easier than at other businesses. Currency’s loans are available up to $500,000 and 72 months, with no prepayment penalties or down payments required. |
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Security National Bank |
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Security National Bank offers a variety of commercial loans and business credit card services designed to support Sioux City businesses. Loan types include term, equipment, construction, real estate and lines of credit. Lending decisions are made in-house to provide better flexibility and rates. Security National Bank has a location at 601 Pierce Street, Sioux City, IA 51101. |
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Siouxland Bank |
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Siouxland Bank provides business solutions and customer support. The company offers business loans and farm loans, as well as business bank accounts. Customers say its services are welcoming and that employees treat customers like family. Siouxland Bank business loans can be obtained in person at 1001 W. 29th St., South Sioux City, NE 68776. |
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Primebank |
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Primebank works with customers to build a financial structure that supports cash flow and growth objectives. From SBA loans to lines of credit to equipment loans, the company offers a wide variety of solutions for Sioux City businesses. Agriculture loans are also available. Primebank has four locations in the area, including one at 5680 Sunnybrook Drive, Sioux City, IA 51106. |
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Great Western Bank |
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Great Western Bank offers a wide variety of business solutions in Sioux City. Loan types include commercial real estate loans, lines of credit, SBA loans, term loans and working capital loans. The company’s BusinessManager program provides working capital for receivables and extends credit terms for businesses. The company also specializes in business solutions specifically designed for the agriculture industry. Visit Great Western Bank at 839 Gordon Drive, Sioux City, IA 51101. |
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Great Southern Bank |
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Great Southern Bank partners with businesses to find the credit they need to expand. Commercial loans are available for a variety of real estate projects, including nursing homes, hotels and more. The company also offers revolving lines of credit and tax credit financing for businesses. Visit Great Southern Bank at 4211 Morningside Ave., Sioux City, IA 51106. |
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Northwest Bank |
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Northwest Bank offers small business financial solutions, including real estate loans, SBA loans and equipment loans. Business credit cards are also available, with no fees for additional employees and included expense management tools. The company’s services include access to its Knowledge Series events, including workshops and speakers. Northwest Bank has several Sioux City locations, including one at 818 W. Seventh St., Sioux City, IA 51103. |
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