Loan Census Banking News and Information
December 6, 2021  
  Business Loan Information  

Business Loan Amory, Mississippi

Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Amory, Mississippi who are interested in getting a small business loan.

Local Amory Lenders

To assist you in finding a small business banker, here's our list of small business banks in Amory.

Small Business Bank Recent SBA Loans
Amory Federal  
Cadence Bank 5
Community Bank No. Mississippi 2
Community Bank of Amory  
National Bank of Commerce  

Other Lending Resources for Amory Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Innovative Bank
Oakland, CA

Tips for Getting a Business Loan in Amory

Before reaching out to lenders to get 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Having a business plan is is critically important. If the capital is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to 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 the banks in our list 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. Advice on Raising Money

Make it a priority to learn as much as you can about Raising Money. For starters, we recommend you read Business Credit Evaluation.

Business Loan Sources for Other Cities in Mississippi
Get a Business Loan in Aberdeen
Get a Business Loan in Batesville

Browse All Business Loan Sources for Mississippi