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

Port Sulphur, Louisiana Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Port Sulphur, Louisiana? If so, you'll want to talk to some of these small business lenders in Port Sulphur.

If you are hoping to get a small business loan and your business is based in Port Sulphur, Louisiana, we've assembled a list of local small business banks that you should contact.

Local Port Sulphur Business Lenders

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

Small Business Bank Recent SBA Loans
Regions Bank - Banking Office Locations- Port Sulphur Office  

Banks that Lend to Port Sulphur Businesses

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

Small Business Bank Recent SBA Loans
Gulf Coast Bank & Trust
New Orleans, LA
1
Innovative Bank
Oakland, CA
4

Port Sulphur Bank Loan Tips

Prior to 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the money is to for a going concern, 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, you will likely be asked to secure the business with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 are SBA lenders. 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Choosing VC Firms.

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