Loan Census Banking News and Information
May 19, 2024  
  Business Loan Information  

Business Loan Leeds, Alabama

Loan Census SBA Loan Info

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

This article is written specifically for small business owners in Leeds, Alabama who are interested in getting a bank loan.

Local Leeds Lenders

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

Small Business Bank Recent SBA Loans
America's First Federal Credit Union - Leeds  
Bancorpsouth - Leeds  
Bancorpsouth - Moody  
Colonial Bank - Banking Offices- Moody  
Compass Bank  
Covenant Bank 31
First American Bank  

Banks that Lend to Leeds Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
New York, NY
Business Loan Center, LLC
Panama City Beach, FL
Capital One
Mclean, VA
Cit Small Business Lending Corp
Livingston, NJ
Innovative Bank
Oakland, CA
Wells Fargo Bank
San Jose, CA

Tips for Getting a Business Loan in Leeds

As a prerequisite to reaching out to lenders to get 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the money is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge 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 meeting with the 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. Advice on Raising Money is a site that is dedicated to providing advice to small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is Investor Turnoffs.

Business Loan Sources for Other Cities in Alabama
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