If you are hoping to get a small business loan and your business is based in Satsuma, Alabama, we've assembled a list of local small business banks that you should contact.
Local Satsuma Banks
To help you learn more about local small business lenders, here's our list of small business banks in Satsuma.
|Small Business Bank
||Recent SBA Loans
|Banktrust - Offices- Saraland
Other Lending Resources for Satsuma Businesses
This is a list of banks outside of Satsuma, Alabama that have provided SBA loans to Satsuma businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Satsuma Businesses
Prior 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, define how the money will be used, and show your ability to pay the loan back to the bank.
Being able to present a well-written business plan is is critically important. If the financing is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 you cannot repay the loan.
If the business has few assets, you will likely be asked to pledge 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to get up to speed 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
Our Gaebler.com site is dedicated to providing advice to small business owners, and we have a
lot of useful articles about to Raising
Money. For example, we would suggest you read How Equity Dilution Works.
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