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

Bristol, Rhode Island Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Bristol, Rhode Island! If that's what's on your mind, you've come to the right place.

We wrote this article for entrepreneurs in Bristol, Rhode Island who are interested in getting a bank loan.

Local Bristol Business Lenders

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

Small Business Bank Recent SBA Loans
Bank of Newport  
Citizens Bank - Branch Offices- Bristol  
Citizens Bank - Supermarket Branches- Stop &- Private Banking Department- Stop &  
People's Credit Union  
Rhode Island Credit Union - Branch Offices  
Susan Cabral  

SBA Lenders for Bristol Businesses

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

Small Business Bank Recent SBA Loans
Washington Tr Co - Westerly
Westerly, RI
2
Bank - Fall River A Co-operati
Fall River, MA
1
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
10
Bank Of America
Waltham, MA
1
Bank Rhode Island
Providence, RI
2
Bankfive
Fall River, MA
1
Capital One
Mclean, VA
1
Domestic Bank
Cranston, RI
1
Rbs Citizens
Norwood, MA
2
Rbs Citizens
Providence, RI
58
Slade's Ferry Bancorp
Somerset, MA
1
Sovereign Bank
Dorchester, MA
1
Sovereign Bank
Villanova, PA
2
Textron Business Credit, Inc.
Providence, RI
1
Webster Bank
Providence, RI
1

Bristol Business Loan Advice

As a prerequisite to contacting banks 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the money is to for an existing 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 to guarantee the loan with your personal assets, such as the equity in your home. 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. 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

If you are new to our Gaebler.com site, you should know that we are passionate about helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Business Credit Evaluation.

More Business Loan Info for Rhode Island
Get a Business Loan in Barrington
Get a Business Loan in Cranston

Browse All Business Loan Sources for Rhode Island