Small Business Lenders in Tompkinsville, Kentucky

Local Tompkinsville Banks

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

Banks that Lend to Tompkinsville Businesses

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

Business Loan Advice for Tompkinsville Businesses

Before reaching out to banks for a loan, you will need to determine exactly what size loan you will be asking for.

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.

Being able to present a well-written business plan is essential. If the bank loan 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 the banks in our list are SBA lenders. Before meeting with the 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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