This article is written specifically for small business proprietors in Delta Junction, Alaska who are interested in getting a small business loan.
Local Delta Junction Lenders
To assist you in finding a small business banker, here's our list of small business banks in Delta Junction.
Other Lending Resources for Delta Junction Businesses
This is a list of banks outside of Delta Junction, Alaska that have provided SBA loans to Delta Junction businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Delta Junction
Before meeting with 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the lender.
Having a business plan is is critically important. If the financing is to for a company that is already doing 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 cash flow from the business does not meet your projections.
If the business has few assets, you will likely be asked 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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.
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