We wrote this article for small business proprietors in Indialantic, Florida who are interested in getting debt financing.
Local Indialantic Banks
To assist you in finding a small business banker, here's our list of small business banks in Indialantic.
Small Business Bank |
Recent SBA Loans |
Bank Of America |
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Banks that Lend to Indialantic Businesses
This is a list of banks outside of Indialantic, Florida that have provided SBA loans to Indialantic businesses. Some of these may be national banks with local branch locations.
Indialantic Business Loan Advice
Before contacting banks for a loan, you will need to have a specific plan.
You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the loan back to the bank.
Having a business plan is essential. If the loan 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 the equity in your home. 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. 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
Make the effort and learn as much as you can about Raising
Money. For starters, we recommend you read
504 Loans.
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