Loan Census Banking News and Information
December 23, 2024  
 
 
  Business Loan Information  
 

Business Loan Park City, Kentucky

 
Loan Census SBA Loan Info

Small business loans in Park City, Kentucky are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Park City, Kentucky who are interested in getting debt financing.

Lenders for Park City Businesses

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

Small Business Bank Recent SBA Loans
Innovative Bank
Oakland, CA
1

Tips for Getting a Business Loan in Park City

Before meeting with lenders to discuss getting 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, define how the money will be used, and show how you plan to pay the money back to the lender.

A well-defined business plan is is critically important. 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 secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

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 these banks 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 Choosing VC Firms.

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