Business Loan Charlotte, Michigan

Local Charlotte Banks

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

Other Lending Resources for Charlotte Businesses

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

Tips for Getting a Business Loan in Charlotte

Prior to reaching out to lenders 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, describe what the money will finance, and show your ability to pay the money back to the lender.

Having a business plan is essential. If the capital 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 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 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 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 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

If you are new to our Gaebler.com site, you should know that we are devoted to providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Bank Credit Lines.