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

Small Business Lenders in Enterprise, Mississippi

 
Loan Census SBA Loan Info

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

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

Local Enterprise Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Enterprise.

Small Business Bank Recent SBA Loans
Great Southern National Bank  

Banks that Lend to Enterprise Businesses

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

Small Business Bank Recent SBA Loans
First Financial Bank
Carthage, MS
1

Business Loan Advice for Enterprise Businesses

Before meeting with lenders for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the bank loan 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. 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.

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