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

Tryon, North Carolina Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Tryon, North Carolina who are interested in getting a small business loan.

Local Tryon Banks

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

Small Business Bank Recent SBA Loans
Carolina First  
First Citizens  
Hometown Bank  

Lenders for Tryon Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
5

Tryon Business Loan Advice

Prior to reaching out to banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the bank loan 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in North Carolina
Get a Business Loan in Trinity
Get a Business Loan in Wake Forest

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