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

Florence, Mississippi Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business owners in Florence, Mississippi who are interested in getting debt financing.

Local Florence Business Lenders

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

Small Business Bank Recent SBA Loans
Bancorpsouth - Branch Offices- Florence  
Trustmark Bank  

Other Lending Resources for Florence Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
2
Community Bank Of Mississippi
Forest, MS
4
Innovative Bank
Oakland, CA
1
Trustmark National Bank
Brandon, MS
1
Trustmark National Bank
Jackson, MS
20

Florence Business Loan Advice

Prior to meeting with lenders to discuss getting a bank 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the money is to for an existing 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 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 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

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

Business Loan Sources for Other Cities in Mississippi
Get a Business Loan in Diamondhead
Get a Business Loan in Forest

Browse All Business Loan Sources for Mississippi