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

Silver Creek, Mississippi Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Silver Creek, Mississippi, we've put together a list of local small business banks that you should contact.

Banks that Lend to Silver Creek Businesses

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

Small Business Bank Recent SBA Loans
First Financial Bank
Carthage, MS
6
First Financial Bank
El Dorado, AR
2
Innovative Bank
Oakland, CA
1
Peoples Bank
Magee, MS
3

Silver Creek Bank Loan Tips

Prior to contacting banks to get a bank 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, define how the money will be used, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. 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. 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to secure the business with 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 are SBA lenders. Before you sit down to talk with a small business 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 new to our Gaebler.com site, you should know that we are deeply committed to providing advice to small business owners, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Choosing VC Firms.

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