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April 21, 2021  
 
 
  Business Loan Information  
 

Goshen, Alabama Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Goshen, Alabama small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are planning on applying for a small business loan and your business is based in Goshen, Alabama, we've assembled a list of local small business banks that you should contact.

Local Goshen Business Lenders

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

Small Business Bank Recent SBA Loans
Troy Bank & Trust  

SBA Lenders for Goshen Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

Goshen Bank Loan Tips

As a prerequisite to meeting with lenders to get a bank loan, you will need to develop the specifics of your loan request.

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 your ability to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the bank loan is to for a going concern, 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 your individual retirement account or pension plan. 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. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

Gaebler.com is a site that is devoted to aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read 504 Loans.

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