Maybe your business has reached a critical cross road and you need someone to help you think through your options and develop a financial plan to ensure your ongoing business success. The Peoples Bank of Alabama banking team stands ready to assist you in projecting and evaluating financing alternatives.
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Since every business is unique, we need to get to know you, your business and the marketplace in which you compete every day. The following information will assist the Peoples Bank of Alabama banking team in understanding your business and how we might be able to assist:
-Three to five years of business financial statements and/or tax returns
-Personal financial statements on all key business owners
-Current operating statements for your business (year to date P&L and balance sheet)
-Financial projections or business plan; if you have completed a business plan or financial projection,
it will assist the business banking team
While this information is vital to our getting to know your business, the most important thing to Peoples Bank of Alabama is to schedule a personal visit to you and your business. Call us today and let's get started!
Click below to hear from some of our Business Banking customers:
Business Lines of Credit
A business line of credit is a convenient tool
for meeting short term financing needs. It can
be used to purchase raw materials, inventory
or to meet seasonal cash flow needs. These
lines are typically secured by the working assets
of your business: accounts receivable and inventory.
Business term loans allow you to finance major
equipment, plant or building expansions projects.
These loans are typically secured by the fixed
assets owned by your business (buildings, real
estate, equipment). The term of repayment is
determined by the useful life of the assets
involved and the repayment ability of your company.
Managing your cash flow cycle is a key step to
developing profitable growth. Utilizing cash
management products and services can help
you increase liquidity, reduce costs and maximize
earnings power. Let Peoples Bank of Alabama
work with you to customize an overall solution for
meeting your goals.
Construction Lines and Loans
A construction line or loan allows your business to
borrow up to a predetermined amount to acquire
land and to construct buildings which your
business will occupy. As construction progresses
and you draw up on the line, you pay interest only on
the amount borrowed. At the end of construction,
the line can then be converted to a term loan to be
paid out over a period of years based on the
repayment ability of your company. In addition to
financing owner occupied properties, Peoples
Bank of Alabama also provides financing for
investment or tenant occupied properties.
Repayment terms are determined by the flow of
income coming to you from these properties.
Government Lending Programs
The Small Business Administration, United States
Department of Agriculture and other federal, state
and local agencies have a variety of lending
programs designed to assist you and your
business in meeting specific financing needs.
We have a government lending specialist who is
available to help small businesses determine which
program is right for you and to guide you through the