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

Small Business Lenders in Kevil, Kentucky

 
Loan Census SBA Loan Info

Getting a business loan in Kevil, Kentucky 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 Kevil, Kentucky, we've assembled a list of local small business banks that you should contact.

Local Kevil Lenders

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

Small Business Bank Recent SBA Loans
Jackson Purchase Agricultural Credit Association  
Kevil Bank  

Banks that Lend to Kevil Businesses

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

Small Business Bank Recent SBA Loans
Paducah Bank & Trust
Paducah, KY
3

Business Loan Advice for Kevil Businesses

Prior to contacting banks 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 bank.

Having a business plan is essential. If the loan 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 guarantee 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. Prior to visiting local banks, 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 recommend you read 504 Loans.

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