This article is written specifically for small business owners in Oakdale, Louisiana who are interested in getting a bank loan.
Local Oakdale Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Oakdale.
Small Business Bank |
Recent SBA Loans |
Cameron State Bank |
|
First Fed. Bank - Louisiana |
1 |
First Federal Bank of Louisiana |
|
Hibernia National Bank |
|
Sabine State Bank |
|
Business Loan Providers for Oakdale Businesses
This is a list of banks outside of Oakdale, Louisiana that have provided SBA loans to Oakdale businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Oakdale
As a prerequisite to meeting with lenders 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, define how the money will be used, and show your ability to pay the money back to the lender.
Being able to present a well-written business plan is is critically important. If the money is to for an existing 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 secure the business 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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 dedicated to helping entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. To learn more, we would suggest you read 504 Loans.
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