Loan Census Banking News and Information
February 23, 2024  
  Business Loan Information  

Small Business Lenders in Satsuma, Alabama

Loan Census SBA Loan Info

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

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.

Small Business Bank Recent SBA Loans
Mobile, AL
Regions Bank
Atlanta, GA

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. Advice on Raising Money

Our 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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