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

Wingo, Kentucky Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Wingo, Kentucky, we've assembled a list of local small business banks that you should contact.

Local Wingo Banks

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

Small Business Bank Recent SBA Loans
First National Bank - Mayfield Main Office- Wingo Office  

SBA Lenders for Wingo Businesses

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

Small Business Bank Recent SBA Loans
First Commun Bank - Western Kent
Clinton, KY
3

Wingo Bank Loan Tips

Prior to meeting with lenders 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 lender.

Being able to present a well-written business plan is an important prerequisite. If the loan is to for a company that is already doing 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge 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 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

Invest the time to learn as much as you can about Raising Money. For starters, we recommend you read How Equity Dilution Works.

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