Business Loan Calhoun, Tennessee

Local Calhoun Lending Resources

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

Other Lending Resources for Calhoun Businesses

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

Tips for Getting a Business Loan in Calhoun

Prior to meeting with lenders to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the loan back to the lender.

A well-defined business plan is is critically important. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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. 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

Our Gaebler.com site is all about helping entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Investor Turnoffs.