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March 29, 2024  
 
 
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Business Loan St. Marys, West Virginia

 
Loan Census SBA Loan Info

I need a loan for my business in St. Marys, West Virginia! If that's what's on your mind, you've come to the right place.

This article is written specifically for small business owners in St. Marys, West Virginia who are interested in getting a bank loan.

Business Loan Providers for St. Marys Businesses

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

Small Business Bank Recent SBA Loans
Progressive Bank
Wheeling, WV
1
Wesbanco Commercial
Parkersburg, WV
1

Tips for Getting a Business Loan in St. Marys

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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the bank 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, you will likely be asked to pledge 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 the banks in our list are SBA lenders. Before meeting with the banker, 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

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read Getting a Small Business Loan.

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