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

Hatfield, Massachusetts Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Hatfield, Massachusetts are available. You just need to talk to the right bank.

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

Other Lending Resources for Hatfield Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1

Hatfield Bank Loan Tips

As a prerequisite to contacting banks 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 how you intend to to pay the loan back to the bank.

A well-defined business plan is is critically important. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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, you will likely be asked to secure the business with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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. Prior to visiting local banks, 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 passionate about providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Getting a Small Business Loan.

Business Loan Sources for Other Cities in Massachusetts
Get a Business Loan in Greenfield
Get a Business Loan in Haverhill

Browse All Business Loan Sources for Massachusetts