6 Ways to Get a Bank Loan for Your Business

If you think like a banker, you could get the finance you need for your business

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Bank loans continue to be one of the more common ways to finance small business activity. And while some of the uncertainty of the financial crisis continues to linger and with a questionable economy and increased regulation, most banks remain highly conservative with regards to their lending activity.  However, banks need to lend because that’s how they make money, so it’s not impossible for small business owners to obtain bank financing.

Think banks aren’t lending? The American Bankers Association (ABA) reported in August that banks initiated roughly $1.6 trillion in new lending over the prior 12 months BlackEnterprise.com spoke with Dontá Wilson, BB&T North Alabama Community Banking President and Bob Seiwert, senior vice president of the ABA. Wilson held several key management functions in retail and commercial banking, having spent most of his banking career leading mergers and acquisitions. Seiwert is in charge of the ABA’s Center for Commercial Lending and Business Banking.

Here’s what advice they have to offer:

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7 Responses to 6 Ways to Get a Bank Loan for Your Business

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  5. Ms Shoestring says:

    The big disadvantage about the bank loan is the interest! Budding entrepreneurs need to look for alternative sources of finance and maybe even consider bootstrapping. External finance is not always the best route. http://www.shoestring-entrepreneurs.net

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    whoah this blog is wonderful i like studying your posts. Stay up the good work! You know, many persons are hunting around for this information, you can aid them greatly.

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