Loan Census Banking News and Information
June 30, 2022  
  Business Loan Information  

Blades, Delaware Small Business Loans

Loan Census SBA Loan Info

Getting a business loan in Blades, Delaware seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Blades, Delaware, we've assembled a list of local small business banks that you should contact.

SBA Lenders for Blades Businesses

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

Small Business Bank Recent SBA Loans
Unity Bank
Clinton, NJ

Blades Bank Loan Tips

Before contacting banks 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 bank.

Having a business plan is is critically important. If the capital is to for a company that is already doing business, 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 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 these banks are SBA lenders. 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. Advice on Raising Money

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Realistic Debt Financing Options.

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