Small Business Lenders in Bradenton, Florida

Prior to reaching out to lenders 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, describe what the money will finance, and show your ability to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 secure the business with 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. Before meeting with the 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.

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

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

More Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Borrowing Money from Friends and Family.