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

Mount Vernon, Indiana Business Loan

 
Loan Census SBA Loan Info

Looking for a Mount Vernon, Indiana 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.

We wrote this article for small business proprietors in Mount Vernon, Indiana who are interested in getting a bank loan.

Local Mount Vernon Lending Resources

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

Small Business Bank Recent SBA Loans
Evansville Teachers Federal Credit Union - MT Vernon Office  
Fifth Third Bank  
First National Bank of Carmi  
Integra Bank - Banking Centers- MT Vernon- MT Vernon Banking Center  

SBA Lenders for Mount Vernon Businesses

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

Small Business Bank Recent SBA Loans
Integra Bank
Evansville, IN
1
Old National Bank
Evansville, IN
1
Wells Fargo Bank
San Jose, CA
1

Mount Vernon Business Loan Advice

Before contacting banks 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the loan 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 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 are SBA lenders. Prior to visiting local banks, you may want to read up on 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

Our Gaebler.com site is passionate about assisting small business owners, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read Choosing VC Firms.

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