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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Lynchburg, Virginia

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Lynchburg, Virginia who are interested in getting a bank loan.

Local Lynchburg Lending Resources

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

Small Business Bank Recent SBA Loans
Amer National Bank & Trust 1
American National Bank  
ATM America  
Bank Of America  
Bank Of The James 2
Beacon Credit Union  
Bedford Federal Savings Bank - New London  
Branch Bank & Trust 1
Central Fidelity Bank  
Central Fidelity National Bank  
Central National Bank  
Central Virginia Federal Credit Union  
Community First Bank - Offices  
Co-Operative Savings Bank FSB 847-3800  
Diebold Incorporated  
Express Check Advance  
First Citizens Bank  
First Federal Savings Bank  
First National Bank of Altavista  
First Union  
FNB Corporation  

Banks that Lend to Lynchburg Businesses

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

Small Business Bank Recent SBA Loans
Amer National Bank & Trust
Danville, VA
1
Bank Of America
Charlotte, NC
7
Branch Bank & Trust
Winston Salem, NC
3
Capital One
Mclean, VA
3
Cit Small Business Lending Corp
Livingston, NJ
8
Comerica Bank
Houston, TX
1
Hanmi Bank
Los Angeles, CA
1
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Innovative Bank
Oakland, CA
6
Newtek Small Business Finance Inc.
New York, NY
1
Provident Bank Of Maryland
Warrenton, VA
2
Ups Capital Business Credit
Windsor, CT
1
Wachovia Bank
Winston Salem, NC
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Washington Mutual Bank
Henderson, NV
1
Wells Fargo Bank
San Jose, CA
1

Tips for Getting a Business Loan in Lynchburg

Prior to contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 essential. If the bank loan is to for a company that is already doing 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 you cannot repay the loan.

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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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