If you are planning on applying for a small business loan and your business is based in Notasulga, Alabama, we've assembled a list of local small business banks that you should contact.
Local Notasulga Lenders
Without further adieu, here's our list of small business banks in Notasulga.
|Small Business Bank
||Recent SBA Loans
|Auburnbank Member FDIC Equal Housing Lender
Lenders for Notasulga Businesses
This is a list of banks outside of Notasulga, Alabama that have provided SBA loans to Notasulga businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Notasulga Businesses
Before reaching out to banks to discuss getting a bank 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 essential. If the bank loan is to for a company that is already doing business, 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, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 the banks in our list are SBA lenders. Before meeting with the 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
If you are planning on Raising
Money, you need to get up to speed on the subject. If you haven't read it
already, we recommend you review
More Business Lender Lists for Alabama Cities
Get a Business Loan in Northport
Get a Business Loan in Oneonta
Browse All Business Loan Sources for Alabama