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

Small Business Lenders in Port Townsend, Washington

 
Loan Census SBA Loan Info

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

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

Local Port Townsend Banks

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

Small Business Bank Recent SBA Loans
Bank of America  
First American NATL Bank BLDG  
First Federal Savings & Loan Association  
Frontier Bank - Port Townsend Branch  
Kitsap Bank 4
Marinerbank  
Olympic Northwest Mortgage & Escrow  
Quimper Community Federal Credit Union  
U S Bank - Branch Offices- Port Townsend- Port Townsend Office  
Washington Mutual - Bank Locations- Port Townsend  
Washington Mutual-Financial Center  

Business Loan Providers for Port Townsend Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
10
Capital One
Mclean, VA
3
Cit Small Business Lending Corp
Livingston, NJ
1
Kitsap Bank
Port Orchard, WA
5
Prime Pacific Bank, Na
Lynnwood, WA
1
U.S. Bank National Association
Cincinnati, OH
4
Wells Fargo Bank
Lynnwood, WA
1
Wells Fargo Bank
San Jose, CA
5

Business Loan Advice for Port Townsend Businesses

Before reaching out to lenders to get 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 pledge 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 these banks 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review How Equity Dilution Works.

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