If you are looking for a small business loan and your business is based in Attalla, Alabama, we've assembled a list of local small business banks that you should contact.
Local Attalla Lenders
Without further adieu, here's our list of small business banks in Attalla.
|Small Business Bank
||Recent SBA Loans
|Exchange Bank of Alabama
Lenders for Attalla Businesses
This is a list of banks outside of Attalla, Alabama that have provided SBA loans to Attalla businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Attalla Businesses
As a prerequisite to contacting lenders 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 intend to to pay the loan back to the lender.
A well-defined 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. Bankers will also want to know 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 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 are SBA lenders. Before meeting with the banker, 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.
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