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April 20, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Owens Cross Roads, Alabama

 
Loan Census SBA Loan Info

Small business loans in Owens Cross Roads, Alabama are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Owens Cross Roads, Alabama, we've put together a list of local small business banks that you should contact.

Local Owens Cross Roads Lending Resources

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

Small Business Bank Recent SBA Loans
Amsouth Bank - Branches- Hampton Cove  

SBA Lenders for Owens Cross Roads Businesses

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

Small Business Bank Recent SBA Loans
Redstone Fcu
Huntsville, AL
2

Business Loan Advice for Owens Cross Roads Businesses

Prior to contacting banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is is critically important. If the financing 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 guarantee 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 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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.

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