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

Maplesville, Alabama Business Loan

Loan Census SBA Loan Info

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

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
Peachtree Bank 1
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.

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
New York, NY
Innovative Bank
Oakland, CA

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. Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read 504 Loans.

Business Loan Sources for Other Cities in Alabama
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Get a Business Loan in Millbrook

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