Loan Census Banking News and Information
April 15, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Butler, Alabama

 
Loan Census SBA Loan Info

Raising money in Butler, Alabama? If so, you'll want to talk to some of these small business lenders in Butler.

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.

Small Business Bank Recent SBA Loans
West Alabama Bank & Trust
Reform, AL
1

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.

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 Business Credit Evaluation.

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