Sebastopol, Mississippi Small Business Loans

Local Sebastopol Business Loan Sources

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

Banks that Lend to Sebastopol Businesses

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

Sebastopol Bank Loan Tips

Prior to 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for an existing business, 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 cash flow from the business does not meet your projections.

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 are SBA lenders. 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

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Getting a Small Business Loan.