Loan Census Banking News and Information
January 21, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Lineville, Alabama

 
Loan Census SBA Loan Info

Getting a business loan in Lineville, Alabama seems challenging at first, but we're here to help you get started.

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

Local Lineville Business Loan Sources

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

Small Business Bank Recent SBA Loans
Firststate Bank  
Southtrust Bank - Offices- Lineville Office  
Wachovia Bank 1

Other Lending Resources for Lineville Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
1
Superior Financial Group, LLC
Walnut Creek, CA
1
Wachovia Bank
Birmingham, AL
1

Business Loan Advice for Lineville Businesses

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 plan to pay the loan back to the bank.

A well-defined business plan is essential. If the loan 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 secure 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 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 meeting with the 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

Our Gaebler.com site is all about supporting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read Borrowing Money from Friends and Family.

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