Loan Census Banking News and Information
April 21, 2021  
 
 
  Business Loan Information  
 

Business Loan Hartford, Alabama

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Hartford, Alabama who are interested in getting debt financing.

Local Hartford Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Hartford.

Small Business Bank Recent SBA Loans
City Bank of Hartford  
First National Bank  

Banks that Lend to Hartford Businesses

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

Small Business Bank Recent SBA Loans
Ameris Bank
Dothan, AL
1

Tips for Getting a Business Loan in Hartford

Before contacting banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 bank.

Having a business plan is essential. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Borrowing Money from Friends and Family.

Business Loan Sources for Other Cities in Alabama
Get a Business Loan in Guntersville
Get a Business Loan in Hartselle

Browse All Business Loan Sources for Alabama