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

Small Business Lenders in Falmouth, Massachusetts

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Falmouth, Massachusetts, we've assembled a list of local small business banks that you should contact.

Local Falmouth Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Falmouth.

Small Business Bank Recent SBA Loans
Cape Cod Five Cents Savings Bank  
Citizens Bank - Branch Offices- Falmouth  
Eastern Bank 1
Falmouth Bank  
Harborone Credit Union  
Rockland Trust Company 1
Security Federal Savings Bank  
Service Credit Union  
Sovereign Bank  
Td Banknorth 2

SBA Lenders for Falmouth Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Bank Of America
Providence, RI
1
Bankfive
Fall River, MA
1
Capital One
Mclean, VA
2
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Rbs Citizens
Providence, RI
2
Salem Five Cents Savings Bank
Salem, MA
1
Td Banknorth
Pocasset, MA
1
Td Banknorth
Portland, ME
1

Business Loan Advice for Falmouth Businesses

Before contacting 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Having a business plan is is critically important. If the money 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked 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 these banks participate in the financial assistance programs available through the SBA. 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 new to our Gaebler.com site, you should know that we are dedicated to supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we would suggest you read 504 Loans.

Business Loan Sources for Other Cities in Massachusetts
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Get a Business Loan in Fitchburg

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