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

Small Business Lenders in Milton, Vermont

 
Loan Census SBA Loan Info

I need a loan for my business in Milton, Vermont! If that's what's on your mind, you've come to the right place.

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

Lenders for Milton Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
2
Chittenden Trust Company
Burlington, VT
12
Keybank National Association
Cleveland, OH
4
Peoples Tr Co - St. Albans
Saint Albans, VT
1
Rbs Citizens
Providence, RI
1
Td Banknorth
Portland, ME
3
Union Bank
Morrisville, VT
2

Business Loan Advice for Milton Businesses

Before reaching out to lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 plan to pay the money back to the lender.

A well-defined business plan is an important prerequisite. If the capital 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 you cannot repay the loan.

If the business has few assets, you will likely be asked 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 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read 504 Loans.

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