Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Taylorsville, Indiana

 
Loan Census SBA Loan Info

Small business loans in Taylorsville, Indiana are available. You just need to talk to the right bank.

We wrote this article for small business owners in Taylorsville, Indiana who are interested in getting a bank loan.

Lenders for Taylorsville Businesses

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

Small Business Bank Recent SBA Loans
Centra Cu
Columbus, IN
1
National City Bank
Indianapolis, IN
1

Tips for Getting a Business Loan in Taylorsville

As a prerequisite to reaching out to banks to discuss getting a bank 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 how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the financing 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 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 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Line of Credit.

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