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Raising money in Memphis, Tennessee? If so, you'll want to talk to some of these small business lenders in Memphis.
If you are planning on applying for a small business loan and your business is based in Memphis, Tennessee, we've put together a list of local small business banks that you should contact.
Local Memphis Business Loan Sources Without further adieu, here's our list of small business banks in Memphis.
Business Loan Providers for Memphis Businesses This is a list of banks outside of Memphis, Tennessee that have provided SBA loans to Memphis businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Banco Popular North America
New York City, NY |
3 |
Bancorpsouth Bank
Tupelo, MS |
2 |
Bank Of America
Charlotte, NC |
128 |
Bank Of Bartlett
Bartlett, TN |
2 |
Bank Of The West
San Francisco, CA |
1 |
Banktennessee
Collierville, TN |
8 |
Borrego Springs Bank
Borrego Springs, CA |
4 |
Business Lenders, LLC
Hartford, CT |
1 |
Business Loan Center, LLC
New York, NY |
10 |
Business Loan Center, LLC
Panama City Beach, FL |
12 |
Business Loan Center, LLC
Richmond, VA |
1 |
Business Loan Center, LLC
Washington, DC |
1 |
California Bank & Trust
Sacramento, CA |
2 |
Capital One
Mclean, VA |
31 |
Capital One Bank (usa)
Glen Allen, VA |
1 |
Cit Small Business Lending Corp
Livingston, NJ |
21 |
Citizens Bank
Elizabethton, TN |
2 |
Comerica Bank
Dallas, TX |
2 |
Comerica Bank
Houston, TX |
1 |
Community So. Bank D.b.a Commun
Parsons, TN |
4 |
Community W. Bank
Goleta, CA |
5 |
Compass Bank
Birmingham, AL |
1 |
Excel National Bank
Beverly Hills, CA |
1 |
Farmers And Merchants Bank
Bolivar, TN |
1 |
Fidelity Bank
Norcross, GA |
1 |
Fifth Third Bank
Nashville, TN |
1 |
First Bank
Creve Coeur, MO |
1 |
First State Bank
Martin, TN |
7 |
First State Bank Of Joplin
Sarcoxie, MO |
1 |
First Tennessee Bank
Bartlett, TN |
4 |
First Tennessee Bank
Knoxville, TN |
4 |
Ge Cap. Small Business Finan Corp
St. Louis, MO |
5 |
Guaranty Bank
Springfield, MO |
1 |
Innovative Bank
Oakland, CA |
117 |
Insouth Bank
Brownsville, TN |
2 |
Liberty Bank Of Arkansas
Jonesboro, AR |
1 |
Mainstreet Lender 7(a), LLC
Chevy Chase, MD |
1 |
Merrill Lynch Bank Usa
Salt Lake City, UT |
2 |
Ncb, FSB
Hillsboro, OH |
1 |
Patriot Bank
Collierville, TN |
1 |
Patriot Bank
Millington, TN |
4 |
Regions Bank
Atlanta, GA |
4 |
Regions Bank
Birmingham, AL |
9 |
Regions Bank
Montgomery, AL |
1 |
Renasant Bank
Germantown, TN |
6 |
Small Business Loan Source LLC
Houston, TX |
2 |
Stearns Bank
Saint Cloud, MN |
2 |
Suntrust Bank
Richmond, VA |
5 |
Superior Financial Group, LLC
Walnut Creek, CA |
119 |
Telesis Community Cu
Chatsworth, CA |
1 |
Temecula Valley Bank
Temecula, CA |
2 |
Tennessee Business & Indust Devel
Paris, TN |
6 |
Triumph Bank
Germantown, TN |
1 |
Trustmark National Bank
Brandon, MS |
6 |
Trustmark National Bank
Germantown, TN |
1 |
Trustmark National Bank
Jackson, MS |
11 |
Trustmark National Bank
Pearl, MS |
1 |
U.S. Bank National Association
Cincinnati, OH |
4 |
United Central Bank
Garland, TX |
1 |
Wachovia Bank
Birmingham, AL |
4 |
Wachovia Bank
Charlotte, NC |
2 |
Wachovia SBA Lending, Inc.
Roseville, CA |
4 |
Wells Fargo Bank
Minneapolis, MN |
4 |
Wilshire State Bank
Los Angeles, CA |
1 |
Zions First National Bank
West Valley City, UT |
4 |
Business Loan Advice for Memphis Businesses
As a prerequisite to reaching out to lenders 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, define how the money will be used, and show how you plan to pay the loan back to the lender.
A well-defined business plan is an important prerequisite. If the capital is to for a company that is already doing business, 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 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 are SBA lenders. 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
If you are serious about Raising
Money, you need to learn as much as you can. If you haven't read it
already, we recommend you review
504 Loans.
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