Small Business Lenders in Franklin Springs, Georgia

Business Loan Providers for Franklin Springs Businesses

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

Business Loan Advice for Franklin Springs Businesses

Prior to meeting with lenders 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Being able to present a well-written 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. You will also need to discuss 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, the bank may ask you to to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. Before meeting with the 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

Our Gaebler.com site is deeply committed to assisting small business owners, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, we recommend you read Business Line of Credit.