Loan Census Banking News and Information
December 23, 2024  
 
 
  Business Loan Information  
 

Cadiz, Kentucky Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Cadiz, Kentucky, we've assembled a list of local small business banks that you should contact.

Local Cadiz Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Cadiz.

Small Business Bank Recent SBA Loans
Bank - Cadiz & Trust 3
Bank of Cadiz & Trust CO  
Heritage Bank  
Integra Bank - Main Office- West Branch  

Lenders for Cadiz Businesses

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

Small Business Bank Recent SBA Loans
Fredonia Valley Bank
Fredonia, KY
1
Integra Bank
Evansville, IN
1
Regions Bank
Murray, KY
2

Cadiz Bank Loan Tips

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 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.

A well-defined business plan is is critically important. If the financing is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 the banks in our list are SBA lenders. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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