We wrote this article for small business owners in Patterson, Georgia who are interested in getting a small business loan.
Local Patterson Banks
To assist you in finding a small business banker, here's our list of small business banks in Patterson.
|Small Business Bank
||Recent SBA Loans
Banks that Lend to Patterson Businesses
This is a list of banks outside of Patterson, Georgia that have provided SBA loans to Patterson businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Patterson
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 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 lender.
Being able to present a well-written business plan is an important prerequisite. If the financing is to for a company that is already doing business, 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 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 the banks in our list are SBA lenders. Prior to visiting local banks, 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. For starters, we recommend you read
Business Line of Credit.
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