If you are hoping to get a small business loan and your business is based in Carthage, Mississippi, we've assembled a list of local small business banks that you should contact.
Local Carthage Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Carthage.
Lenders for Carthage Businesses
This is a list of banks outside of Carthage, Mississippi that have provided SBA loans to Carthage businesses. Some of these may be national banks with local branch locations.
Carthage Bank Loan Tips
As a prerequisite to contacting 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, describe what the money will finance, and show your ability to pay the money back to the bank.
A well-defined business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 are SBA lenders. Prior to visiting local banks, 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
Getting a Small Business Loan.
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