Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Oneonta, Alabama Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Oneonta, Alabama! If that's what's on your mind, you've come to the right place.

If you are looking for a small business loan and your business is based in Oneonta, Alabama, we've assembled a list of local small business banks that you should contact.

Local Oneonta Banks

To assist you in finding a small business banker, here's our list of small business banks in Oneonta.

Small Business Bank Recent SBA Loans
Community Bank Wal-Mart  
Compass Bank  
Regions Mortgage  
Superior Bank 1
The Hometown Bank Of Alabama 5

Business Loan Providers for Oneonta Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
3
Capital One
Mclean, VA
3
Community So. Bank D.b.a Commun
Knoxville, TN
1
Compass Bank
Birmingham, AL
1
Stearns Bank
Saint Cloud, MN
1
Textron Business Credit, Inc.
Providence, RI
1

Oneonta Bank Loan Tips

Before reaching out to banks to get 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 your ability to pay the money back to the bank.

Being able to present a well-written business plan is essential. 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 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, you will likely be asked to secure the business 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 the banks in our list 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 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 recommend you read Business Credit Evaluation.

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