Loan Census Banking News and Information
October 19, 2020  
 
 
  Business Loan Information  
 

Business Loan Chicopee, Massachusetts

 
Loan Census SBA Loan Info

Getting a business loan in Chicopee, Massachusetts seems challenging at first, but we're here to help you get started.

We wrote this article for small business owners in Chicopee, Massachusetts who are interested in getting a small business loan.

Local Chicopee Banks

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

Small Business Bank Recent SBA Loans
Banknorth Massachusetts - Banking Centers  
Chicopee Savings Bank 60
Citizens Bank - Supermarket Branches- Stop & Shop  
Peoples Bank  
Sovereign Bank - Offices- Chicopee  

Business Loan Providers for Chicopee Businesses

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

Small Business Bank Recent SBA Loans
Bank - Western Massachusetts
Springfield, MA
7
Bank Of America
Charlotte, NC
6
Bank Of America
Providence, RI
9
Berkshire Bank
Pittsfield, MA
1
Capital One
Mclean, VA
5
Cit Small Business Lending Corp
Livingston, NJ
2
Hampden Bank
Springfield, MA
2
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Newalliance Bank
West Springfield, MA
3
Rbs Citizens
Providence, RI
7
Small Business Loan Source LLC
Houston, TX
1
Sovereign Bank
Wyomissing, PA
1
Td Banknorth
Portland, ME
15
Td Banknorth
Springfield, MA
2
Td Banknorth
Worcester, MA
1
United Bank
West Springfield, MA
3
Ups Capital Business Credit
Springfield, MA
1
Ups Capital Business Credit
Windsor, CT
1

Tips for Getting a Business Loan in Chicopee

As a prerequisite to meeting with lenders for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. Before meeting with the 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Credit Evaluation.

Business Loan Sources for Other Cities in Massachusetts
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