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

Newton Grove, North Carolina Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Newton Grove, North Carolina 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 Newton Grove, North Carolina, we've put together a list of local small business banks that you should contact.

Local Newton Grove Lending Resources

Without further adieu, here's our list of small business banks in Newton Grove.

Small Business Bank Recent SBA Loans
BB & T - Branches- Newton Grove Branch- ATM Location  
Branch Bank & Trust 1
First Citizens Bank  

Newton Grove Bank Loan Tips

As a prerequisite to contacting banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the bank 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 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 pledge 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 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

Make it a priority to learn as much as you can about Raising Money. To get started, we suggest you read How Much Venture Capital Is There?.

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