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

Phenix City, Alabama Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Phenix City, Alabama who are interested in getting debt financing.

Local Phenix City Banks

Without further adieu, here's our list of small business banks in Phenix City.

Small Business Bank Recent SBA Loans
Auburn Bank - Walmart Branch  
Bank of Russell County CB & T  
Cb&t Bank Of East Alabama 1
Colonial Bank  
Phenix Girard Bank  
Southtrust Bank  

Lenders for Phenix City Businesses

This is a list of banks outside of Phenix City, Alabama that have provided SBA loans to Phenix City 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
1
Capital One
Mclean, VA
2
Capital One Bank (usa)
Glen Allen, VA
1
Citizens Trust Bank
Atlanta, GA
1
Citizens Trust Bank
Columbus, GA
1
Colonial Bank
Columbus, GA
1
Columbus Bank & Trust
Columbus, GA
2
Innovative Bank
Oakland, CA
2
Merrill Lynch Bank Usa
Salt Lake City, UT
1
Redstone Fcu
Huntsville, AL
1
Suntrust Bank
Richmond, VA
1
Wachovia Bank
Birmingham, AL
1
Wachovia Bank
Charlotte, NC
1

Phenix City Business Loan Advice

As a prerequisite to meeting with banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the money is to for an existing 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, 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 these banks 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 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

Make the effort and learn as much as you can about Raising Money. For starters, we suggest you read Angel Investors.

Business Loan Sources for Other Cities in Alabama
Get a Business Loan in Pell City
Get a Business Loan in Piedmont

Browse All Business Loan Sources for Alabama