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

North Falmouth, Massachusetts Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in North Falmouth, Massachusetts 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 North Falmouth, Massachusetts, we've put together a list of local small business banks that you should contact.

Other Lending Resources for North Falmouth Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
3
Rockland Trust Company
Rockland, MA
2

North Falmouth Bank Loan Tips

As a prerequisite to meeting with banks for a 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 your ability to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the loan is to for a going concern, 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to pledge 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Gaebler.com is a site that is devoted to supporting entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is Investor Turnoffs.

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