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April 21, 2021  
 
 
  Business Loan Information  
 

Business Loan Tenakee Springs, Alaska

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Tenakee Springs, Alaska who are interested in getting a bank loan.

Banks that Lend to Tenakee Springs Businesses

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

Small Business Bank Recent SBA Loans
Wells Fargo Bank
Sioux Falls, SD
1

Tips for Getting a Business Loan in Tenakee Springs

Prior to contacting lenders for a loan, you will need to have a specific plan.

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 lender.

Having a 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. In addition, you should itemize 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 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 meeting with the banker, 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 Getting a Small Business Loan.

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