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April 23, 2021  
 
 
  Business Loan Information  
 

Gurley, Alabama Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Gurley, Alabama are available. You just need to talk to the right bank.

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

Lenders for Gurley Businesses

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

Small Business Bank Recent SBA Loans
First Commercial Bank
Madison, AL
1
Redstone Fcu
Huntsville, AL
4
Regions Bank
Memphis, TN
1

Gurley Bank Loan Tips

Prior to meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

Having a business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 the equity in your home. 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 these banks are SBA lenders. Prior to visiting local banks, 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 planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Credit Evaluation.

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