Loan Census Banking News and Information
April 21, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Anderson, Alabama

 
Loan Census SBA Loan Info

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

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

Lenders for Anderson Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
1

Business Loan Advice for Anderson Businesses

As a prerequisite to contacting banks for a 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the bank loan 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 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 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 the banks in our list are SBA lenders. Prior to visiting local banks, 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review How Much Venture Capital Is There?.

Business Loan Sources for Other Cities in Alabama
Get a Business Loan in Andalusia
Get a Business Loan in Anniston

Browse All Business Loan Sources for Alabama