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March 28, 2024  
 
 
  Business Loan Information  
 

Etowah, North Carolina Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Etowah, North Carolina who are interested in getting a small business loan.

SBA Lenders for Etowah Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Innovative Bank
Oakland, CA
1

Etowah Business Loan Advice

As a prerequisite to contacting lenders for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money is to for a company that is already doing 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, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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