Loan Census Banking News and Information
December 23, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Crofton, Kentucky

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Crofton, Kentucky, we've assembled a list of local small business banks that you should contact.

Local Crofton Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Crofton.

Small Business Bank Recent SBA Loans
United Southern Bank  

Lenders for Crofton Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
U.S. Bank National Association
Cincinnati, OH
1

Business Loan Advice for Crofton Businesses

Before meeting with banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is is critically important. If the money 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 your individual retirement account or pension plan. 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. 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 deeply committed to supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read 504 Loans.

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