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March 29, 2024  
 
 
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Raeford, North Carolina Business Loan

 
Loan Census SBA Loan Info

Raising money in Raeford, North Carolina? If so, you'll want to talk to some of these small business lenders in Raeford.

This article is written specifically for entrepreneurs in Raeford, North Carolina who are interested in getting debt financing.

SBA Lenders for Raeford Businesses

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

Small Business Bank Recent SBA Loans
Branch Bank & Trust
Winston Salem, NC
4
Business Loan Center, LLC
Panama City Beach, FL
3
Capital One
Mclean, VA
1
Excel National Bank
Beverly Hills, CA
1
Innovative Bank
Oakland, CA
3
Omni National Bank
Atlanta, GA
1
Suntrust Bank
Richmond, VA
1

Raeford Business Loan Advice

Prior to contacting lenders for a loan, you will need to determine exactly what size loan you will be asking for.

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 how you intend to to pay the loan back to the lender.

A well-defined business plan is essential. If the financing is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 stocks and bonds that you might own or life insurance policies. 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 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

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 504 Loans.

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