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

Sweetwater, Tennessee Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Sweetwater, Tennessee! If that's what's on your mind, you've come to the right place.

We wrote this article for small business proprietors in Sweetwater, Tennessee who are interested in getting a small business loan.

Local Sweetwater Banks

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

Small Business Bank Recent SBA Loans
Athens Federal Community Bank  
BB & T - Branches- Sweetwater  
Citizens National Bank  
FSG Bank NA  
Peoples Bank of East Tennessee  
Raymond James Financial Services Inc  

Banks that Lend to Sweetwater Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Cit Small Business Lending Corp
Livingston, NJ
2
Innovative Bank
Oakland, CA
3
Superior Financial Group, LLC
Walnut Creek, CA
3
Wachovia SBA Lending, Inc.
Roseville, CA
1

Sweetwater Business Loan Advice

As a prerequisite to contacting banks to get 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, define how the money will be used, and show your ability to pay the money back to the bank.

Having a business plan is an important prerequisite. If the money is to for a going concern, 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 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 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

More Business Loan Info for Tennessee
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