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March 29, 2024  
 
 
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Gates, North Carolina Business Loan

 
Loan Census SBA Loan Info

Looking for a Gates, North Carolina small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business proprietors in Gates, North Carolina who are interested in getting a bank loan.

SBA Lenders for Gates Businesses

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

Small Business Bank Recent SBA Loans
Southern Bank & Trust
Gatesville, NC
1

Gates Business Loan Advice

Before contacting banks for a loan, you will need to have a specific plan.

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 bank.

Having a business plan is essential. If the bank loan 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 the equity in your home. 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 are SBA lenders. Before meeting with the banker, 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Bank Credit Lines.

Business Loan Sources for Other Cities in North Carolina
Get a Business Loan in Gastonia
Get a Business Loan in Goldsboro

Browse All Business Loan Sources for North Carolina