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

Small Business Lenders in Blue Springs, Mississippi

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Blue Springs, Mississippi, we've assembled a list of local small business banks that you should contact.

Business Loan Providers for Blue Springs Businesses

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

Small Business Bank Recent SBA Loans
Bancorpsouth Bank
Tupelo, MS
1
Renasant Bank
New Albany, MS
1
Trustmark National Bank
Jackson, MS
1

Business Loan Advice for Blue Springs Businesses

As a prerequisite to meeting with banks to get 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, define how the money will be used, and show your ability to pay the money back to the bank.

Having a business plan is essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read 504 Loans.

More Business Lender Lists for Mississippi Cities
Get a Business Loan in Biloxi
Get a Business Loan in Booneville

Browse All Business Loan Sources for Mississippi