Loan Census Banking News and Information
October 22, 2021  
 
 
  Business Loan Information  
 

Business Loan Bessemer, Alabama

 
Loan Census SBA Loan Info

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

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

Local Bessemer Banks

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

Small Business Bank Recent SBA Loans
Colonial Bank  
Computer Express  
First American Bank  
First Financial Bank 1
Group Purchase Plan  
National Bank of Commerce - Banking Offices- Hueytown  
Peoples Bank and Trust CO  
Regions Bank - Branches- Morgan Road  
Regions Bank - Branches- Westlake  
Southtrust Bank - Banking Offices- Hueytown Riversquare Office ATM Saturday Ban  
Southtrust Bank - Departments- Commercial Division- Credit Inquiries  

SBA Lenders for Bessemer Businesses

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

Small Business Bank Recent SBA Loans
Bancorpsouth Bank
Birmingham, AL
1
Business Loan Center, LLC
New York, NY
2
Business Loan Center, LLC
Panama City Beach, FL
3
Capital One
Mclean, VA
5
Cit Small Business Lending Corp
Livingston, NJ
1
Community So. Bank D.b.a Commun
Parsons, TN
1
Compass Bank
Birmingham, AL
2
Covenant Bank
Leeds, AL
2
First American Bank
Pelham, AL
1
First Financial Bank
Hoover, AL
1
Innovative Bank
Oakland, CA
6
Regions Bank
Atlanta, GA
1
Regions Bank
Birmingham, AL
1
Superior Bank
Blountsville, AL
1
Superior Financial Group, LLC
Walnut Creek, CA
2
Temecula Valley Bank
Temecula, CA
1
The Buckhead Community Bank
Atlanta, GA
1
Wachovia SBA Lending, Inc.
Roseville, CA
2

Tips for Getting a Business Loan in Bessemer

Prior to contacting 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the capital 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 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, the bank may ask you to to secure the business 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. 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Investor Turnoffs.

Business Loan Sources for Other Cities in Alabama
Get a Business Loan in Bay Minette
Get a Business Loan in Birmingham

Browse All Business Loan Sources for Alabama