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March 28, 2024  
 
 
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Ravenna, Kentucky Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Ravenna, Kentucky, we've put together a list of local small business banks that you should contact.

Lenders for Ravenna Businesses

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

Small Business Bank Recent SBA Loans
Traditional Bank, Inc.
Mount Sterling, KY
1

Ravenna Bank Loan Tips

Before meeting with lenders to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 intend to to pay the money back to the lender.

Having a business plan is an important prerequisite. If the bank loan is to for an existing business, 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, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Prior to visiting local banks, 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

Our Gaebler.com site is dedicated to aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. To learn more, one article that might be of interest to you is 504 Loans.

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