This article is written specifically for entrepreneurs in Floral City, Florida who are interested in getting debt financing.
Local Floral City Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Floral City.
Small Business Bank |
Recent SBA Loans |
Bank of Inverness - Floral City Branch |
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Capital City Bank |
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Other Lending Resources for Floral City Businesses
This is a list of banks outside of Floral City, Florida that have provided SBA loans to Floral City businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Floral City
Before meeting with lenders for a loan, you will need to determine exactly what size loan you will be asking for.
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 plan to pay the loan back to the lender.
A well-defined business plan is is critically important. If the capital is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 stocks and bonds that you might own or life insurance policies. 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 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
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