Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Hayden, Alabama Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Hayden, Alabama? If so, you'll want to talk to some of these small business lenders in Hayden.

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

SBA Lenders for Hayden Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
1
Compass Bank
Birmingham, AL
1
Innovative Bank
Oakland, CA
1

Hayden Bank Loan Tips

Before reaching out to banks 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 bank.

Being able to present a well-written business plan is is critically important. If the capital 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 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 pledge 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 these banks are SBA lenders. Before you sit down to talk with a small business banker, 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

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Choosing VC Firms.

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