Small Business Lenders in Richburg, South Carolina

Local Richburg Lenders

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

Other Lending Resources for Richburg Businesses

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

Business Loan Advice for Richburg Businesses

Prior to meeting with lenders for a loan, you will need to develop the specifics of your loan request.

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 your ability to pay the loan back to the lender.

Having a business plan is is critically important. 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 secure 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 your individual retirement account or pension plan. 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 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Borrowing Money from Friends and Family.