Small Business Lenders in Collierville, Tennessee

Local Collierville Lending Resources

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

Banks that Lend to Collierville Businesses

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

Business Loan Advice for Collierville Businesses

Prior to reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.

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 an important prerequisite. If the capital is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 pledge your personal assets, such as your individual retirement account or pension plan. 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. Before meeting with the banker, 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 new to our Gaebler.com site, you should know that we are all about helping small business owners, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Attracting Investors.