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

Small Business Lenders in Clay City, Indiana

 
Loan Census SBA Loan Info

Small business loans in Clay City, Indiana are available. You just need to talk to the right bank.

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

Local Clay City Banks

Without further adieu, here's our list of small business banks in Clay City.

Small Business Bank Recent SBA Loans
First National Bank & Trust  

Business Loan Providers for Clay City Businesses

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

Small Business Bank Recent SBA Loans
Regions Bank
Palestine, IL
1

Business Loan Advice for Clay City Businesses

As a prerequisite to reaching out to banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Having a 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. 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 secure the business with 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 the banks in our list 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

Invest the time to learn as much as you can about Raising Money. For starters, we recommend you read Business Credit Evaluation.

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