This article is written specifically for small business owners in Edgard, Louisiana who are interested in getting a small business loan.
Local Edgard Lending Resources
Without further adieu, here's our list of small business banks in Edgard.
Small Business Bank |
Recent SBA Loans |
Hibernia National Bank Offices |
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Business Loan Providers for Edgard Businesses
This is a list of banks outside of Edgard, Louisiana that have provided SBA loans to Edgard businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Edgard
Prior to reaching out to banks for a loan, you will need to determine exactly what size loan you will be asking for.
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.
Being able to present a well-written business plan is essential. If the loan 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 guarantee 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 to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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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