Ravenel, South Carolina Small Business Loans

Local Ravenel Lending Resources

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

Banks that Lend to Ravenel Businesses

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

Ravenel Bank Loan Tips

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, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the lender.

Having a business plan is is critically important. If the money is to for a company that is already doing 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 you cannot repay the loan.

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 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

Gaebler.com is a site that is all about helping entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is 504 Loans.