Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Ashville, Alabama Business Loan

 
Loan Census SBA Loan Info

Looking for a Ashville, Alabama small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

We wrote this article for small business owners in Ashville, Alabama who are interested in getting a small business loan.

Local Ashville Banks

To help you learn more about local small business lenders, here's our list of small business banks in Ashville.

Small Business Bank Recent SBA Loans
Metro Bank  
Union State Bank 1

Banks that Lend to Ashville Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

Ashville Business Loan Advice

Before meeting with 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, define how the money will be used, 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 financing is to for a going concern, 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 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.

Gaebler.com Advice on Raising Money

Our Gaebler.com site is passionate about assisting small business owners, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Business Line of Credit.

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