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

Tunica, Mississippi Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Tunica, Mississippi who are interested in getting debt financing.

Local Tunica Banks

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

Small Business Bank Recent SBA Loans
Citizens Bank & Trust CO  
Covenant Bank  
First Security Bank  

Lenders for Tunica Businesses

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

Small Business Bank Recent SBA Loans
Branch Bank & Trust
Winston Salem, NC
1
Business Loan Center, LLC
Panama City Beach, FL
1
First Security Bank
Batesville, MS
1
Innovative Bank
Oakland, CA
2

Tunica Business Loan Advice

As a prerequisite to meeting with banks for a 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, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the money is to for an existing 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 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 these banks 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read Getting a Small Business Loan.

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