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

Sequim, Washington Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Sequim, Washington who are interested in getting debt financing.

Local Sequim Lending Resources

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

Small Business Bank Recent SBA Loans
American Marine Bank  
Bank Of America  
Frontier Bank 1
Inter West Bank  
Keybank - Keycenters- Sequim  
Kitsap Bank 1
Sound Community Bank  
U S Bank - Sequim Office- Branch Offices- Sequim  
Washington Federal Savings  
Washington Mutual - Bank Locations- Sequim  

SBA Lenders for Sequim Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
7
Capital One
Mclean, VA
2
Cit Small Business Lending Corp
Livingston, NJ
2
Community W. Bank
Goleta, CA
1
Hanmi Bank
Los Angeles, CA
1
Independence Bank
East Greenwich, RI
1
Keybank National Association
Cleveland, OH
3
Kitsap Bank
Port Orchard, WA
7
Nara Bank
Los Angeles, CA
2
Pacific International Bank
Seattle, WA
1
U.S. Bank National Association
Cincinnati, OH
8
Unibank
Lynnwood, WA
2
Wells Fargo Bank
San Jose, CA
2

Sequim Business Loan Advice

As a prerequisite to reaching out to banks for a 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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, the bank may ask you to to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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. Prior to visiting local banks, you may want to get up to speed 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

Make the effort and learn as much as you can about Raising Money. For starters, we recommend you read Business Credit Evaluation.

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