If you are looking for a small business loan and your business is based in Hernando Beach, Florida, we've put together a list of local small business banks that you should contact.
Other Lending Resources for Hernando Beach Businesses
This is a list of banks outside of Hernando Beach, Florida that have provided SBA loans to Hernando Beach businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Hernando Beach Businesses
Prior to reaching out to banks to get a bank 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.
Being able to present a well-written business plan is essential. If the loan is to for a company that is already doing business, 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 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 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 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 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 providing advice to small business owners, and we have a
lot of useful articles about to Raising
Money. If you want to learn about raising money, one article that might be of interest to you is Business Line of Credit.
Business Loan Sources for Other Cities in Florida
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