Entrepreneurs Get a Boost as Alabama’s Banks Loosen Their Purse Strings

July 18, 2012

In terms of those who hope to start or grow a new business this year in Alabama, there is some good news. The Small Business Lending Fund (SBLF) signed into place by President Obama may make it more possible to get more capital through local banks. According to the Birmingham News “The SBLF is meant to encourage community banks — those with less than $10 billion in assets — to increase lending to small business, aimed at helping businesses expand operations and create jobs.”

If you are in the process of building a business, you can get your piece of the American Dream by contacting your community banks to find out what small business loans you may qualify for. In some cases, the Small Business Association (SBA) in Alabama may also be able to point you to sources of capital in the form of low interest loans and grants. Yet, the first step you should take is to develop a business plan so you can present your business ideas professionally.

A business plan should include your business ideas, including what start-up funds you will be able to provide, as well as any partner support you may be getting. If you are working with a team of investors, it is often easier to get loans from a variety of sources to start a small business in Alabama. Just be sure to have a plan for each stage of your business from startup to an exit strategy for the future.

Starting a business takes leadership ability and the strong desire to succeed. Regardless to common belief, this is not an inherent human trait. Being a leader comes from several factors, including having the passion to see your ideas come to life, a strong desire to be the best in your chosen niche, and above average interpersonal and communication skills.

Taking Dale Carnegie courses can be a big boost to your ability to start a business in Alabama, by supporting the development of your leadership skills and networks. Consider taking advantage of the resources available at Dale Carnegie Training of Birmingham now.

This post is brought to you by the good folks at Dale Carnegie Training of Alabama, providers of professional development and management development courses and information in Huntsville, Alabama. We would love to connect with you on Facebook and Twitter @DaleCarnegieALA



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