These materials were prepared for small business proprietors in Millen, Georgia who are interested in getting a small business loan.
Local Millen Banks
To help you learn more about local small business lenders, here's our list of small business banks in Millen.
Business Loan Providers for Millen Businesses
This is a list of banks outside of Millen, Georgia that have provided SBA loans to Millen businesses. Some of these may be national banks with local branch locations.
Millen Business Loan Advice
Before contacting lenders to get 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, define how the money will be used, and show how you plan to pay the loan back to the lender.
Having a business plan is essential. If the money is to for a going concern, 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, the bank may ask you to to secure the business with your personal assets, such as the equity in your home. 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 meeting with the banker, you may want to do your homework 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 dedicated to aiding small business owners, and we have a
lot of useful articles about to Raising
Money. For example, we recommend you read Business Cash Advances.
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