If you are looking for a small business loan and your business is based in Lyerly, Georgia, we've assembled a list of local small business banks that you should contact.
Local Lyerly Lenders
To assist you in finding a small business banker, here's our list of small business banks in Lyerly.
|Small Business Bank
||Recent SBA Loans
|BB & T
SBA Lenders for Lyerly Businesses
This is a list of banks outside of Lyerly, Georgia that have provided SBA loans to Lyerly businesses. Some of these may be national banks with local branch locations.
Lyerly Bank Loan Tips
Before 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 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 lender.
Having a business plan is essential. If the bank loan is to for a going concern, 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 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. 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.
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