If you are looking for a small business loan and your business is based in Butler, Alabama, we've assembled a list of local small business banks that you should contact.
Local Butler Business Lenders
Without further adieu, here's our list of small business banks in Butler.
|Small Business Bank
||Recent SBA Loans
|Regions Bank - Main Office
|West Alabama Bank & Trust
Business Loan Providers for Butler Businesses
This is a list of banks outside of Butler, Alabama that have provided SBA loans to Butler businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Butler Businesses
As a prerequisite to meeting with 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.
Having a business plan is an important prerequisite. If the loan 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 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. Before meeting with the banker, you may want to do your homework 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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