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

Business Loan Smyrna, Tennessee

 
Loan Census SBA Loan Info

Getting a business loan in Smyrna, Tennessee seems challenging at first, but we're here to help you get started.

These materials were prepared for entrepreneurs in Smyrna, Tennessee who are interested in getting a bank loan.

Local Smyrna Business Loan Sources

Without further adieu, here's our list of small business banks in Smyrna.

Small Business Bank Recent SBA Loans
Amsouth Bank  
Bank of America  
Bank of the South - S Lowry St-Smyrna  
Finance & Mortgage Acceptance CO  
First Bank Branch 84  
First Tennessee Bank  
Midsouth Bank  

SBA Lenders for Smyrna Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
15
Borrego Springs Bank
Borrego Springs, CA
1
Business Loan Center, LLC
Panama City Beach, FL
1
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Compass Bank
Birmingham, AL
1
Fifth Third Bank
Nashville, TN
1
Innovative Bank
Oakland, CA
2
North Jackson Bank
Stevenson, AL
1
Pinnacle National Bank
Mount Juliet, TN
3
Regions Bank
Memphis, TN
1
Suntrust Bank
Richmond, VA
2
Superior Financial Group, LLC
Walnut Creek, CA
4
Tennessee Business & Indust Devel
Paris, TN
1
The Bank Of Nashville
Nashville, TN
1
U.S. Bank National Association
Cincinnati, OH
2

Tips for Getting a Business Loan in Smyrna

As a prerequisite to reaching out to banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is essential. If the loan is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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.

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