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March 29, 2024  
 
 
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Bridgeport, Washington Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business owners in Bridgeport, Washington who are interested in getting a bank loan.

SBA Lenders for Bridgeport Businesses

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

Small Business Bank Recent SBA Loans
Wells Fargo Bank
San Jose, CA
1

Bridgeport Business Loan Advice

As a prerequisite to reaching out to 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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written 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. In addition, you should itemize 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, you will likely be asked 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 the banks in our list are SBA lenders. Before you sit down to talk with a small business 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

Gaebler.com is a site that is deeply committed to providing advice to small business owners, and we have a lot of useful articles about to Raising Money. To learn more, we recommend you read 504 Loans.

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