We wrote this article for entrepreneurs in Lincolnton, Georgia who are interested in getting debt financing.
Local Lincolnton Business Lenders
Without further adieu, here's our list of small business banks in Lincolnton.
|Small Business Bank
||Recent SBA Loans
|Farmers & Merchants Bank - Lincolnton
|Farmers State Bank
Business Loan Providers for Lincolnton Businesses
This is a list of banks outside of Lincolnton, Georgia that have provided SBA loans to Lincolnton businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Lincolnton
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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.
A well-defined 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 you cannot repay the loan.
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 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
Our Gaebler.com site is deeply committed to helping small business owners, and we have a
lot of useful articles about to Raising
Money. For example, we recommend you read 504 Loans.
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