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

Brownsville, Kentucky Business Loan

 
Loan Census SBA Loan Info

Small business loans in Brownsville, Kentucky are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Brownsville, Kentucky who are interested in getting a small business loan.

Local Brownsville Lenders

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

Small Business Bank Recent SBA Loans
Bank of Edmonson County  
Brownsville Deposit Bank  

Banks that Lend to Brownsville Businesses

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

Small Business Bank Recent SBA Loans
National City Bank
Louisville, KY
1

Brownsville Business Loan Advice

Before meeting with banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing 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 to guarantee the loan with your personal assets, such as the equity in your home. 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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 serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

Business Loan Sources for Other Cities in Kentucky
Get a Business Loan in Bowling Green
Get a Business Loan in Burlington

Browse All Business Loan Sources for Kentucky