This article is written specifically for small business proprietors in Davenport, Florida who are interested in getting a small business loan.
SBA Lenders for Davenport Businesses
This is a list of banks outside of Davenport, Florida that have provided SBA loans to Davenport businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Davenport
As a prerequisite to meeting with banks 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, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.
Having a business plan is is critically important. If the capital is to for an existing 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 you cannot repay the loan.
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 the banks in our list 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 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 new to our Gaebler.com site, you should know that we are passionate about aiding small business owners, and we have a
lot of useful articles about to Raising
Money. If you want to learn about raising money, we would suggest you read 504 Loans.
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