If you are hoping to get a small business loan and your business is based in Wedowee, Alabama, we've put together a list of local small business banks that you should contact.
Local Wedowee Business Lenders
Without further adieu, here's our list of small business banks in Wedowee.
|Small Business Bank
||Recent SBA Loans
|Bank of Wedowee - Main Office
|Bank of Wedowee - Roanoke Branch
|Bank of Wedowee - Woodland Branch
|Small Town Bank
Business Loan Providers for Wedowee Businesses
This is a list of banks outside of Wedowee, Alabama that have provided SBA loans to Wedowee businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Wedowee Businesses
Prior to meeting with banks for a loan, you will need to develop the specifics of your loan request.
You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 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. Prior to visiting local banks, you may want to read up on 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 learn as much as you can. If you haven't read it
already, we recommend you review
Microlending as a Small Business Funding Source.
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