6 Ways to Get a Bank Loan for Your Business

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

(All images: Thinkstock)

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, BBT 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:

• Federal Home Loan Bank of Seattle Names Michael L. Wilson as President and CEO
• Small Banks Get Boost From Multiunit Building Surge
• Looking for a Loan? Don’t Wait for a Big Bank
• Federal Home Loan Bank of Atlanta Names Jon Keagle Vice President, Manager of Mortgage Funding Strategies
• Donald F. Price Joins The Bank of Hampton Roads as Senior Loan Officer