Moss Point, Mississippi Business Loan

Local Moss Point Business Loan Sources

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

Other Lending Resources for Moss Point Businesses

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

Moss Point Business Loan Advice

As a prerequisite to reaching out to banks to discuss getting 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 your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the capital is to for a going concern, 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, the bank may ask you to 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

Our Gaebler.com site is devoted to providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. If you want to learn about raising money, we would suggest you read 504 Loans.