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

Small Business Lenders in New Milford, Connecticut

 
Loan Census SBA Loan Info

Small business loans in New Milford, Connecticut are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in New Milford, Connecticut, we've assembled a list of local small business banks that you should contact.

Local New Milford Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in New Milford.

Small Business Bank Recent SBA Loans
Fleet Bank  
Newmil Bank - Boardman Terrace Branch  
Newmil Bank - Lanesville Branch  
Newmil Bank - Main Office  
People's Bank  
Savings Bank of Danbury  
Union Savings Bank  
Webster Bank 72

Business Loan Providers for New Milford Businesses

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

Small Business Bank Recent SBA Loans
Amer Business Lending Inc.
Dallas, TX
1
Bank Of America
Charlotte, NC
3
Bank Of America
Providence, RI
3
Capital One
Mclean, VA
4
Commerce Bank
Philadelphia, PA
2
Community So. Bank D.b.a Commun
Parsons, TN
1
Fairfield County Bank Corp
Ridgefield, CT
1
Jpmorgan Chase Bank
Houston, TX
2
Newalliance Bank
New Haven, CT
1
Rbs Citizens
Providence, RI
2
Savings Bank Of Danbury
Danbury, CT
11
Small Business Loan Source LLC
Houston, TX
1
Union Savings Bank
Danbury, CT
8
Webster Bank
Waterbury, CT
1

Business Loan Advice for New Milford Businesses

As a prerequisite to contacting banks to discuss getting 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, define how the money will be used, 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 capital is to for an existing business, 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 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 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 Realistic Debt Financing Options.

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