Loan Census Banking News and Information
December 5, 2023  
  Business Loan Information  

Kodiak, Alaska Business Loan

Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Kodiak, Alaska who are interested in getting debt financing.

Local Kodiak Banks

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

Small Business Bank Recent SBA Loans
First National Bankalaska - Kodiak Branch  
Keybank - Keycenters  
Lucky Money Inc  
Wells Fargo Bank 6
Wells Fargo Home Mortgage  

SBA Lenders for Kodiak Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
First National Bank Alaska
Anchorage, AK
Wells Fargo Bank
Sioux Falls, SD

Kodiak Business Loan Advice

As a prerequisite to contacting banks to discuss getting 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 how you plan to pay the loan back to the bank.

Having a business plan is is critically important. If the loan is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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. To get started, we recommend you read 504 Loans.

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