If you are planning on applying for a small business loan and your business is based in Kingston, Tennessee, we've assembled a list of local small business banks that you should contact.
Local Kingston Business Lenders
Without further adieu, here's our list of small business banks in Kingston.
Small Business Bank |
Recent SBA Loans |
Bank Of America |
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Citizens National Bank |
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Raymond James Financial Services Inc |
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Regions Bank |
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Business Loan Providers for Kingston Businesses
This is a list of banks outside of Kingston, Tennessee that have provided SBA loans to Kingston businesses. Some of these may be national banks with local branch locations.
Kingston Bank Loan Tips
As a prerequisite to reaching out to lenders 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 lender.
A well-defined business plan is essential. If the bank loan is to for an existing business, 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 to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 read up on 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. To get the ball rolling, we recommend you read
Business Cash Advances.
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