Loan Census Banking News and Information
June 2, 2020  
  Business Loan Information  

Plains, Georgia Small Business Loans

Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Plains, Georgia, we've assembled a list of local small business banks that you should contact.

Local Plains Lending Resources

Without further adieu, here's our list of small business banks in Plains.

Small Business Bank Recent SBA Loans
Citizens Bank of Americus  

Other Lending Resources for Plains Businesses

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

Small Business Bank Recent SBA Loans
Sumter Bank & Trust Company
Americus, GA

Plains Bank Loan Tips

Before reaching out to 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Having a business plan is is critically important. If the loan is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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, the bank may ask you to to to guarantee the loan 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 participate in the financial assistance programs available through the SBA. 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. Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Bank Credit Lines.

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