Sevierville, Tennessee Small Business Loans

Local Sevierville Business Loan Sources

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

Business Loan Providers for Sevierville Businesses

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

Sevierville Bank Loan Tips

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

Having a business plan is an important prerequisite. If the capital is to for an existing 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 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 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. Before you sit down to talk with a small business banker, 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.

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Our Gaebler.com site is passionate about assisting small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.