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April 21, 2021  
 
 
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Business Loan Selma, Alabama

 
Loan Census SBA Loan Info

Looking for a Selma, Alabama small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business owners in Selma, Alabama who are interested in getting debt financing.

Local Selma Business Lenders

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

Small Business Bank Recent SBA Loans
Amsouth Bank - Branch- Selma Main  
Atm USA LLC  
Banktrust 2
Peoples Bank  
People's Bank  
Regions Bank  

Lenders for Selma Businesses

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

Small Business Bank Recent SBA Loans
Loan Depot Lending Company In
Chattanooga, TN
1
Business Loan Center, LLC
New York, NY
3
Business Loan Center, LLC
Panama City Beach, FL
2
Capital One
Mclean, VA
1
Innovative Bank
Oakland, CA
3
Rbc Centura Bank
Raleigh, NC
1

Tips for Getting a Business Loan in Selma

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 how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the loan is to for a company that is already doing business, 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 cash flow from the business does not meet your projections.

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 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. Prior to visiting local banks, 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

Business Loan Sources for Other Cities in Alabama
Get a Business Loan in Scottsboro
Get a Business Loan in Sheffield

Browse All Business Loan Sources for Alabama