Gramercy, Louisiana Small Business Loans

Local Gramercy Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Gramercy.

Lenders for Gramercy Businesses

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

Gramercy Bank Loan Tips

Before meeting with 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 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 bank.

Being able to present a well-written business plan is essential. If the financing 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, you will likely be asked to pledge 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. Prior to visiting local banks, 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

Gaebler.com is a site that is all about helping small business owners, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read Business Line of Credit.