These materials were prepared for entrepreneurs in Maplesville, Alabama who are interested in getting debt financing.
Local Maplesville Business Lenders
Without further adieu, here's our list of small business banks in Maplesville.
|Small Business Bank
||Recent SBA Loans
|Peoples Bank & Trust CO
Other Lending Resources for Maplesville Businesses
This is a list of banks outside of Maplesville, Alabama that have provided SBA loans to Maplesville businesses. Some of these may be national banks with local branch locations.
Maplesville Business Loan Advice
Before reaching out to banks for a loan, you will need to have a specific plan.
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.
A well-defined business plan is is critically important. If the money 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, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. 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 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 suggest you read
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