Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Camp Springs, Maryland Business Loan

 
Loan Census SBA Loan Info

Raising money in Camp Springs, Maryland? If so, you'll want to talk to some of these small business lenders in Camp Springs.

We wrote this article for small business proprietors in Camp Springs, Maryland who are interested in getting a small business loan.

Local Camp Springs Business Lenders

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

Small Business Bank Recent SBA Loans
American Security Residential Mortgage  

Other Lending Resources for Camp Springs Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Branch Bank & Trust
Winston Salem, NC
1
Cit Small Business Lending Corp
Livingston, NJ
2
Innovative Bank
Oakland, CA
8
Manufacturers & Traders Trust
Amherst, NY
1
Manufacturers & Traders Trust
Baltimore, MD
1
Manufacturers & Traders Trust
Towson, MD
2
Pnc Bank, National Association
Pittsburgh, PA
1
Wells Fargo Bank
San Jose, CA
1

Camp Springs Business Loan Advice

Prior to meeting with lenders to get a bank 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the lender.

Having a business plan is is critically important. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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, the bank may ask you to to secure the business with your personal assets, such as the equity in your home. The banks will check on your personal credit history 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 the banks in our list participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to do your homework 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.

Gaebler.com Advice on Raising Money

Our Gaebler.com site is all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read Getting a Small Business Loan.

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