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

Northfork, West Virginia Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Northfork, West Virginia! 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 Northfork, West Virginia, we've put together a list of local small business banks that you should contact.

Local Northfork Lending Resources

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

Small Business Bank Recent SBA Loans
Ameribank 1

Northfork Bank Loan Tips

Prior to meeting with 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, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the lender.

Having a business plan is essential. 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to secure the business with 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. 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

If you are new to our Gaebler.com site, you should know that we are passionate about assisting small business owners, and we have a lot of information pertaining to to Raising Money. To learn more, we would suggest you read Business Incubators.

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