Loan Census Banking News and Information
September 30, 2020  
  Business Loan Information  

Alamo, Georgia Business Loan

Loan Census SBA Loan Info

I need a loan for my business in Alamo, Georgia! If that's what's on your mind, you've come to the right place.

We wrote this article for entrepreneurs in Alamo, Georgia who are interested in getting debt financing.

Banks that Lend to Alamo Businesses

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

Small Business Bank Recent SBA Loans
The Merchants & Citizens Bank
Mcrae, GA

Alamo Business Loan Advice

As a prerequisite to meeting with banks for a 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 bank.

A well-defined business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 the banks in our list 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. Advice on Raising Money

Our site is all about helping entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read Getting a Small Business Loan.

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