Loan Census Banking News and Information
February 27, 2021  
 
 
  Business Loan Information  
 

Madison, Alabama Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Madison, Alabama, we've put together a list of local small business banks that you should contact.

Local Madison Business Lenders

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

Small Business Bank Recent SBA Loans
Access Management Corporation  
First American Bank 2
First Commercial Bank 2
Renasant Bank 1
Southtrust Mortgage  

SBA Lenders for Madison Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
1
Branch Bank & Trust
Winston Salem, NC
1
Business Loan Center, LLC
New York, NY
3
Business Loan Center, LLC
Panama City Beach, FL
14
Capital One
Mclean, VA
4
Comerica Bank
Dallas, TX
1
Community W. Bank
Goleta, CA
1
Compass Bank
Birmingham, AL
4
Innovative Bank
Oakland, CA
15
Mountain 1st Bank & Trust
Hendersonville, NC
1
North Jackson Bank
Stevenson, AL
1
Premier Bank Of The South
Cullman, AL
1
Redstone Fcu
Huntsville, AL
23
Regions Bank
Atlanta, GA
5
Reliance Bank
Athens, AL
1
Renasant Bank
Birmingham, AL
1
Renasant Bank
Decatur, AL
1
Southbank, F.s.b.
Huntsville, AL
1
Union Planters Bank
Huntsville, AL
1
Wachovia Bank
Birmingham, AL
1
Wilshire State Bank
Los Angeles, CA
1

Madison Bank Loan Tips

Before reaching out to banks 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 your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the money is to for a company that is already doing 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 stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 read up on 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Choosing VC Firms.

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