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

Business Loan King, North Carolina

 
Loan Census SBA Loan Info

Small business loans in King, North Carolina are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in King, North Carolina who are interested in getting a small business loan.

Local King Banks

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

Small Business Bank Recent SBA Loans
First Citizens Bank - Offices- King & ATM Location  
GSA Financing Specialits  
LSB the Bank - LSB Mastercard Visa  
Newbridge Bank 1

Business Loan Providers for King Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
Southern Commun Bank & Tr
Winston Salem, NC
1
Surrey Bank & Trust
Mount Airy, NC
1

Tips for Getting a Business Loan in King

Before reaching out to lenders to discuss getting a bank loan, you will need to have a specific plan.

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 your ability to pay the money back to the lender.

A well-defined business plan is an important prerequisite. If the capital 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, the bank may ask you to 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 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 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 new to our Gaebler.com site, you should know that we are all about supporting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Choosing VC Firms.

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