Small Business Lenders in Hertford, North Carolina

Local Hertford Banks

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

Lenders for Hertford Businesses

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

Business Loan Advice for Hertford Businesses

Before reaching out to lenders to get a bank 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, describe what the money will finance, and show your ability to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the financing is to for a going concern, 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, the bank may ask you to to pledge 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 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.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read Business Line of Credit.