Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Herndon, Virginia Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Herndon, Virginia, we've assembled a list of local small business banks that you should contact.

Local Herndon Banks

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

Small Business Bank Recent SBA Loans
American Mortgage Group  
Bank Of America  
BB & T  
Cardinal Bank  
Central Fidelity Bank  
Chevy Chase Bank  
Citibank - Maryland- Reston  
Community Bank of Northern Virginia  
Continental Federal Savings Bank  
First Virginia Bank  
Fleet Bank  
M & T Bank  
Mainstreet Bank 16
Millennium Bank 8

Lenders for Herndon Businesses

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

Small Business Bank Recent SBA Loans
Access National Bank
Reston, VA
9
Bank Of America
Charlotte, NC
17
Branch Bank & Trust
Winston Salem, NC
6
Business Lenders, LLC
Hartford, CT
1
Business Loan Center, LLC
Panama City Beach, FL
1
Business Loan Center, LLC
Richmond, VA
2
Capital One
Mclean, VA
9
Cardinal Bank
Mclean, VA
1
Cardinal Bank
Reston, VA
1
Center Bank
Los Angeles, CA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Compass Bank
Birmingham, AL
1
Eaglebank
Bethesda, MD
1
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Hanmi Bank
Los Angeles, CA
1
Innovative Bank
Oakland, CA
9
Lehman Brothers Bank, FSB
Boston, MA
1
Manufacturers & Traders Trust
Baltimore, MD
1
Manufacturers & Traders Trust
Buffalo, NY
4
Manufacturers & Traders Trust
Towson, MD
2
Millennium Bank
Reston, VA
3
Pnc Bank, National Association
Philadelphia, PA
7
Pnc Bank, National Association
Pittsburgh, PA
2
Pnc Bank, National Association
Sterling, VA
4
Provident Bank Of Maryland
Baltimore, MD
1
Provident Bank Of Maryland
Warrenton, VA
4
Resource Bank
Virginia Beach, VA
1
Suntrust Bank
Richmond, VA
1
Superior Financial Group, LLC
Walnut Creek, CA
1
The Adams National Bank
Washington, DC
1
Ups Capital Business Credit
Windsor, CT
1
Wachovia Bank
Charlotte, NC
1
Wachovia Bank
Winston Salem, NC
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Woori America Bank
New York City, NY
1

Herndon Bank Loan Tips

Before reaching out to lenders to discuss getting a bank 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, describe what the money will finance, and show how you intend to to pay the money back to the lender.

Being able to present a well-written business plan is is critically important. If the loan 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 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 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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

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 Borrowing Money from Friends and Family.

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