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
|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.
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.
Gaebler.com Advice on Raising Money
Take the time to learn as much as you can about Raising
Money. To get started, we recommend you read
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