If you are planning on applying for a small business loan and your business is based in Social Circle, Georgia, we've assembled a list of local small business banks that you should contact.
Local Social Circle Banks
To assist you in finding a small business banker, here's our list of small business banks in Social Circle.
|Small Business Bank
||Recent SBA Loans
|Bank of Social Circle
|Georgia Central Bank
|Main Street Bank - Branch Locations- Covington
Other Lending Resources for Social Circle Businesses
This is a list of banks outside of Social Circle, Georgia that have provided SBA loans to Social Circle businesses. Some of these may be national banks with local branch locations.
Social Circle Bank Loan Tips
As a prerequisite to meeting with banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.
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 how you plan to pay the loan back to the bank.
Being able to present a well-written business plan is essential. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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. 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.
Gaebler.com Advice on Raising Money
Our Gaebler.com site is dedicated to providing advice to small business owners, and we have a
lot of information pertaining to to Raising
Money. For example, we would suggest you read How Equity Dilution Works.
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