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

Small Business Lenders in Greenwood, Mississippi

 
Loan Census SBA Loan Info

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

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

Local Greenwood Business Loan Sources

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

Small Business Bank Recent SBA Loans
Amsouth Bank - Departments- Trust  
Amsouth Investment Services Inc  
Bank of Commerce - Main Street Branch  
Bank of Commerce - Merchant Verification- Telephone Banking  
Bank of Commerce - Park Avenue Office  
Commerce Bank Of  
Federal Land Bank Association  
Planters Bank & Trust Company 2
State Bank & Trust Company 97
State Bank & Trust Employee Stoc 1
State Capital Corporation 1
Union Planters Bank  

SBA Lenders for Greenwood Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
3
Citizens Bank & Savings Co
Russellville, AL
1
Innovative Bank
Oakland, CA
14
Trustmark National Bank
Jackson, MS
2

Business Loan Advice for Greenwood Businesses

Before meeting with banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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.

Having a business plan is an important prerequisite. If the capital 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 stocks and bonds that you might own or life insurance policies. 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. 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Getting a Small Business Loan.

More Business Lender Lists for Mississippi Cities
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