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

Stoneville, North Carolina Small Business Loans

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Stoneville, North Carolina, we've put together a list of local small business banks that you should contact.

Local Stoneville Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Stoneville.

Small Business Bank Recent SBA Loans
The Fidelity Bank 1

Other Lending Resources for Stoneville Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Branch Bank & Trust
Winston Salem, NC
1
Self-help Cu
Greensboro, NC
1

Stoneville Bank Loan Tips

Prior to meeting with 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 introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability 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. Bankers will also want to know 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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 planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Bank Credit Lines.

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