Loan Census Banking News and Information
November 21, 2024  
 
 
  Business Loan Information  
 

Clyde, North Carolina Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Clyde, North Carolina seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Clyde, North Carolina who are interested in getting a small business loan.

Local Clyde Banks

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

Small Business Bank Recent SBA Loans
Clyde Savings Bank  
Home Trust Bank  
Hometrust Bank  

Banks that Lend to Clyde Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Community So. Bank D.b.a Commun
Knoxville, TN
1
First-citizens Bank & Trust
Raleigh, NC
1
Innovative Bank
Oakland, CA
1
Self-help Cu
Greensboro, NC
1

Clyde Business Loan Advice

Prior 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 explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the bank loan 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, 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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

Our Gaebler.com site is deeply committed to assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in North Carolina
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