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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Gorham, New Hampshire

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Gorham, New Hampshire who are interested in getting a small business loan.

Local Gorham Business Loan Sources

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

Small Business Bank Recent SBA Loans
Berlin City Bank  
Laconia Savings Bank  

Banks that Lend to Gorham Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
First Colebrook Bank
Colebrook, NH
1
Northway Bank
Berlin, NH
11
Passumpsic Savings Bank
Saint Johnsbury, VT
3
Woodsville Guaranty Savings Bk
Littleton, NH
2
Woodsville Guaranty Savings Bk
Woodsville, NH
1

Tips for Getting a Business Loan in Gorham

As a prerequisite to contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

Having a business plan is is critically important. If the financing is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to secure 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Before meeting with the banker, you may want to read up on 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Attracting Investors.

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