Business Loan Littleton, North Carolina

Local Littleton Business Loan Sources

Without further adieu, here's our list of small business banks in Littleton.

SBA Lenders for Littleton Businesses

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

Tips for Getting a Business Loan in Littleton

Before contacting banks for a 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the capital 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 to guarantee the loan with 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 these banks participate in the financial assistance programs available through the SBA. 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

Our Gaebler.com site is all about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we recommend you read Bank Credit Lines.