We wrote this article for small business owners in Demorest, Georgia who are interested in getting a bank loan.
Local Demorest Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Demorest.
|Small Business Bank
||Recent SBA Loans
|Community Bank & Trust - Trust & Investment Banking Center- Demorest Banking Ce
Other Lending Resources for Demorest Businesses
This is a list of banks outside of Demorest, Georgia that have provided SBA loans to Demorest businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Demorest
Prior to meeting with 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the bank loan 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 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 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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
Gaebler.com is a site that is devoted to aiding small business owners, and we have a
lot of resources related to to Raising
Money. For example, we would suggest you read Business Incubators.
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