Loan Census Banking News and Information
April 15, 2021  
 
 
  Business Loan Information  
 

Tallassee, Alabama Business Loan

 
Loan Census SBA Loan Info

Looking for a Tallassee, 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.

We wrote this article for small business proprietors in Tallassee, Alabama who are interested in getting a bank loan.

Local Tallassee Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Tallassee.

Small Business Bank Recent SBA Loans
Colonial Bank - Banking Offices- Wetumpka- Downtown  
Colonial Bank - Branch Office  
Peoples Bank - Peoples Bankline  
Peoples Bank & Trust  
People's Bank & Trust  
Primesouth Bank  

Lenders for Tallassee Businesses

This is a list of banks outside of Tallassee, Alabama that have provided SBA loans to Tallassee 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

Tallassee Business Loan Advice

Before reaching out to banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Having a business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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, the bank may ask you to to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 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 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Incubators.

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