Loan Census Banking News and Information
November 30, 2023  
  Business Loan Information  

Small Business Lenders in Greenville, Alabama

Loan Census SBA Loan Info

I need a loan for my business in Greenville, Alabama! If that's what's on your mind, you've come to the right place.

If you are hoping to get a small business loan and your business is based in Greenville, Alabama, we've assembled a list of local small business banks that you should contact.

Local Greenville Lenders

To assist you in finding a small business banker, here's our list of small business banks in Greenville.

Small Business Bank Recent SBA Loans
Bancorpsouth - Greenville Office- Mortgage Center  
Butler County Bank  
First Lowndes Bank - Greenville Branch  
Peoples Bank & Trust  
Whitney National Bank  

Other Lending Resources for Greenville Businesses

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

Small Business Bank Recent SBA Loans
Cit Small Business Lending Corp
Livingston, NJ

Business Loan Advice for Greenville Businesses

Prior to reaching out to lenders 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, 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 essential. If the loan 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, the bank may ask you to to to guarantee the loan 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. 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. Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read SBIR Funding.

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