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

Braxton, Mississippi Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Braxton, Mississippi, we've put together a list of local small business banks that you should contact.

Banks that Lend to Braxton Businesses

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

Small Business Bank Recent SBA Loans
Innovative Bank
Oakland, CA
1
Peoples Bank
Magee, MS
8
The Yukon National Bank
Bethany, OK
1
Trustmark National Bank
Jackson, MS
2

Braxton Bank Loan Tips

Prior to meeting with banks 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 how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the money 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 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 the banks in our list participate in the financial assistance programs available through the SBA. 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 passionate about providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, we would suggest you read 504 Loans.

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