If you are planning on applying for a small business loan and your business is based in Eastman, Georgia, we've put together a list of local small business banks that you should contact.
Local Eastman Business Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Eastman.
|Small Business Bank
||Recent SBA Loans
|Bank of Eastman
|Citizens Bank & Trust CO - Bookkeeping Department
|Citizens Bank & Trust CO - Dial-A-Bank
|Colony Bank Of Dodge County
Business Loan Providers for Eastman Businesses
This is a list of banks outside of Eastman, Georgia that have provided SBA loans to Eastman businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Eastman Businesses
As a prerequisite to meeting with lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the lender.
Having a business plan is is critically important. If the capital is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 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 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.
Gaebler.com Advice on Raising Money
If you are planning on Raising
Money, you need to educate yourself. If you haven't read it
already, we recommend you review
How Equity Dilution Works.
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