Alexander City, Alabama Small Business Loans

Local Alexander City Business Lenders

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

SBA Lenders for Alexander City Businesses

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

Alexander City Bank Loan Tips

As a prerequisite to contacting banks to discuss getting a bank 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, define how the money will be used, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. 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 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 to guarantee the loan with 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 these banks are SBA lenders. 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

Gaebler.com is a site that is dedicated to supporting small business owners, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Attracting Investors.