These materials were prepared for entrepreneurs in Hawesville, Kentucky who are interested in getting a bank loan.
Local Hawesville Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Hawesville.
Small Business Bank |
Recent SBA Loans |
Hancock Bank & Trust CO |
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Independence Bank |
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U S Bank |
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Other Lending Resources for Hawesville Businesses
This is a list of banks outside of Hawesville, Kentucky that have provided SBA loans to Hawesville businesses. Some of these may be national banks with local branch locations.
Hawesville Business Loan Advice
Prior to reaching out to banks to get a bank loan, you will need to have a specific plan.
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 how you plan to pay the loan back to the bank.
A well-defined business plan is essential. If the money is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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, you will likely be asked to pledge your personal assets, such as the equity in your home. 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 the banks in our list are SBA lenders. 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 serious about Raising
Money, you need to get up to speed on the subject. If you haven't read it
already, we recommend you review
Attracting Investors.
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