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

Horn Lake, Mississippi Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Horn Lake, Mississippi 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.

If you are planning on applying for a small business loan and your business is based in Horn Lake, Mississippi, we've assembled a list of local small business banks that you should contact.

Local Horn Lake Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Horn Lake.

Small Business Bank Recent SBA Loans
Bancorpsouth - Infoline Account Services- Banking Facilities- Horn  
Desoto County Bank  
First Tennessee Bank  
Trustmark National Bank - Horn Lake Offices- Branch Locations- Desoto County- Horn  
Union Planters Bank - North Mississippi Locations- Southaven  

Banks that Lend to Horn Lake Businesses

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

Small Business Bank Recent SBA Loans
Bancorpsouth Bank
Tupelo, MS
1
Bank Of America
Charlotte, NC
2
Business Loan Center, LLC
Panama City Beach, FL
1
First Tennessee Bank
Southaven, MS
1
Regions Bank
Birmingham, AL
1
Renasant Bank
Southaven, MS
1
Trustmark National Bank
Jackson, MS
2
Wachovia SBA Lending, Inc.
Roseville, CA
1
Wilshire State Bank
Los Angeles, CA
1

Horn Lake Bank Loan Tips

Before contacting banks for a loan, you will need to develop the specifics of your loan request.

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 bank loan 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 guarantee 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 to guarantee the loan 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.

Gaebler.com Advice on Raising Money

Make the effort and learn as much as you can about Raising Money. For starters, we suggest you read How Equity Dilution Works.

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