This article is written specifically for entrepreneurs in St. Petersburg, Florida who are interested in getting a small business loan.
Banks that Lend to St. Petersburg Businesses
This is a list of banks outside of St. Petersburg, Florida that have provided SBA loans to St. Petersburg businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Bank Of America
Charlotte, NC |
1 |
Business Loan Center, LLC
Panama City Beach, FL |
2 |
California Bank & Trust
Sacramento, CA |
1 |
Capital One
Mclean, VA |
1 |
Comerica Bank
Dallas, TX |
1 |
Commerce Bank
Philadelphia, PA |
1 |
Fifth Third Bank
Grand Rapids, MI |
1 |
Orlando National Bank
Longwood, FL |
1 |
Southern Comm. Bank
Tampa, FL |
1 |
Wachovia Bank
Bradenton, FL |
1 |
Wachovia Bank
Charlotte, NC |
1 |
Whitney National Bank
Saint Petersburg, FL |
2 |
Tips for Getting a Business Loan in St. Petersburg
As a prerequisite to reaching out to banks to get a bank 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.
A well-defined business plan is is critically important. If the financing 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 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, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 the banks in our list are SBA lenders. Before you sit down to talk with a small business 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
If you are serious about Raising
Money, you need to get up to speed on the subject. If you haven't read it
already, we recommend you review
504 Loans.
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