Hazlehurst, Mississippi Business Loan

Local Hazlehurst Business Loan Sources

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

Other Lending Resources for Hazlehurst Businesses

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

Hazlehurst Business Loan Advice

As a prerequisite to contacting lenders to get a bank loan, you will need to have a specific plan.

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 how you intend to to pay the money back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee 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 secure the business with your personal assets, such as the equity in your home. 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. 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Only Idiots Send Venture Capitalists Business Plans.