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

Mount Pleasant, Tennessee Business Loan

 
Loan Census SBA Loan Info

Looking for a Mount Pleasant, Tennessee small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business proprietors in Mount Pleasant, Tennessee who are interested in getting debt financing.

Local Mount Pleasant Lending Resources

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

Small Business Bank Recent SBA Loans
American Bank Note  
Amsouth Bank - Branches  
Community First Bank & Trust - Mount Pleasant Office  

Other Lending Resources for Mount Pleasant Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
1
U.S. Bank National Association
Cincinnati, OH
1

Mount Pleasant Business Loan Advice

Before meeting with 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

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. In addition, you should itemize 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, 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. Prior to visiting local banks, 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 learn as much as you can. If you haven't read it already, we recommend you review Business Credit Evaluation.

Business Loan Sources for Other Cities in Tennessee
Get a Business Loan in Mount Juliet
Get a Business Loan in Murfreesboro

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