Taylorsville, North Carolina Business Loan

Local Taylorsville Lending Resources

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

SBA Lenders for Taylorsville Businesses

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

Taylorsville Business Loan Advice

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

Having a business plan is essential. If the capital 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 to guarantee the loan 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 the banks in our list are SBA lenders. Before meeting with the 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

Gaebler.com is a site that is dedicated to helping small business owners, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is How Equity Dilution Works.