Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Bloomfield, Connecticut

 
Loan Census SBA Loan Info

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

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

Local Bloomfield Lending Resources

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

Small Business Bank Recent SBA Loans
Castle Mortgage Corporation  
People's Bank - Bloomfield Offices- Duncaster Branch  
People's Bank - Inside Seabury Retirement Community- Bloomfield Off  
People's Bank - Inside Stop & Shop- Bloomfield Offices- Stop & Shop  
Wachovia - Financial Centers- Bloomfield Office ATM  
Webster Bank - Office  
Windsor Federal Savings - Bloomfield Office  

Business Loan Providers for Bloomfield Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
8
Bank Of America
Providence, RI
17
Business Loan Center, LLC
New York, NY
1
Capital One
Mclean, VA
2
Cit Small Business Lending Corp
Livingston, NJ
1
Connecticut Bank & Trust
Hartford, CT
2
Connecticut River Commun Bk
Wethersfield, CT
1
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Massachusetts Business
Wakefield, MA
1
Newalliance Bank
West Springfield, MA
1
People's United Bank
Bridgeport, CT
1
Rbs Citizens
Providence, RI
2
Simsbury Bank & Trust Inc.
Simsbury, CT
5
Sovereign Bank
Villanova, PA
1
Sovereign Bank
Wyomissing, PA
1
Superior Financial Group, LLC
Walnut Creek, CA
1
Td Banknorth
Glastonbury, CT
1
Td Banknorth
Portland, ME
2
The Community's Bank
Bridgeport, CT
1
Ups Capital Business Credit
Windsor, CT
10
Wachovia SBA Lending, Inc.
Roseville, CA
1
Webster Bank
New Haven, CT
4
Webster Bank
Waterbury, CT
2
Windsor Fed. S & L Association
Windsor, CT
1

Business Loan Advice for Bloomfield Businesses

Prior to contacting lenders to discuss getting a bank loan, you will need to have a specific plan.

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 intend to to pay the loan back to the lender.

A well-defined business plan is is critically important. If the loan 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 secure 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 pledge your personal assets, such as the equity in your home. 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 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

Our Gaebler.com site is devoted to helping entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is Getting a Small Business Loan.

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