These materials were prepared for entrepreneurs in Evergreen, Alabama who are interested in getting debt financing.
Local Evergreen Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Evergreen.
|Small Business Bank
||Recent SBA Loans
|Bank of Evergreen
|Regions Bank - Office
|State Farm Bank
SBA Lenders for Evergreen Businesses
This is a list of banks outside of Evergreen, Alabama that have provided SBA loans to Evergreen businesses. Some of these may be national banks with local branch locations.
Evergreen Business Loan Advice
Prior to meeting with lenders to get a bank loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money back to the lender.
A well-defined business plan is essential. If the financing 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, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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. Before you sit down to talk with a small business 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 new to our Gaebler.com site, you should know that we are all about helping entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. For example, we recommend you read Bank Credit Lines.
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