Loan Census Banking News and Information
June 16, 2021  
 
 
  Business Loan Information  
 

Decatur, Alabama Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Decatur, Alabama, we've put together a list of local small business banks that you should contact.

Local Decatur Business Lenders

Without further adieu, here's our list of small business banks in Decatur.

Small Business Bank Recent SBA Loans
1st Community Credit Corporation  
Amsouth Bank - Branches- Sixth Avenue  
Bank Independent  
Colonial Bank  
Compass Bank  
Diebold Inc  
Eva Bank  
Family Security Credit Union - Beltline Office  
Family Security Cu 1
First American Bank 1
Heritage Bank  
Peoples Bank  
Regions Bank  
Renasant Bank 24
South Trust Bank  
Southtrust Bank - Offices- Beltline Office  
The Bank of Decatur  
Union Planters Bank  
Wachovia Bank 2

Other Lending Resources for Decatur Businesses

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

Small Business Bank Recent SBA Loans
Amer Business Lending Inc.
Dallas, TX
1
Bank Independent
Sheffield, AL
1
Bank Of The West
San Francisco, CA
1
Branch Bank & Trust
Atlanta, GA
1
Business Loan Center, LLC
New York, NY
1
Business Loan Center, LLC
Panama City Beach, FL
8
Business Loan Center, LLC
Richmond, VA
1
Capital One
Mclean, VA
8
Cit Small Business Lending Corp
Livingston, NJ
3
Comerica Bank
Dallas, TX
1
Community W. Bank
Goleta, CA
1
Compass Bank
Birmingham, AL
3
First Farmers & Merchants Bk
Columbia, TN
1
First State Bank
Martin, TN
1
Heritage Bank
Birmingham, AL
2
Innovative Bank
Oakland, CA
3
Newtek Small Business Finance Inc.
New York, NY
1
Redstone Fcu
Huntsville, AL
7
Regions Bank
Atlanta, GA
3
Regions Bank
Birmingham, AL
1
Regions Bank
Memphis, TN
1
Regions Bank
Montgomery, AL
1
Renasant Bank
Birmingham, AL
1
Superior Bank
Birmingham, AL
1
Superior Financial Group, LLC
Walnut Creek, CA
1

Decatur Bank Loan Tips

Before contacting lenders 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 how you plan to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge 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. Prior to visiting local banks, 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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