Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in South Bay, Florida

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in South Bay, Florida, we've put together a list of local small business banks that you should contact.

Local South Bay Banks

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

Small Business Bank Recent SBA Loans
Bank of Belle Glade  

Banks that Lend to South Bay Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
National City Bank
Cleveland, OH
1

Business Loan Advice for South Bay Businesses

As a prerequisite to contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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

A well-defined business plan is essential. If the money 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 stocks and bonds that you might own or life insurance policies. 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. 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.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review How Much Venture Capital Is There?.

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