Loan Census Banking News and Information
July 24, 2021  
  Business Loan Information  

Business Loan Chevy Chase, Maryland

Loan Census SBA Loan Info

Small business loans in Chevy Chase, Maryland are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Chevy Chase, Maryland who are interested in getting a bank loan.

Local Chevy Chase Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Chevy Chase.

Small Business Bank Recent SBA Loans
Banc Of America Investment Services- Inc  
Bank of America  
Chevy Chase Bank, F.s.b. 6
First Union Small Business Capital  
Independence Federal Savings Bank  
Main Street Lender, LLC 1
Mainstreet Lender 7(a), LLC 83
Provident Bank  

SBA Lenders for Chevy Chase Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
Miami, FL
Innovative Bank
Oakland, CA
Manufacturers & Traders Trust
Baltimore, MD
Manufacturers & Traders Trust
Towson, MD
Pnc Bank, National Association
Baltimore, MD
Pnc Bank, National Association
Pittsburgh, PA
Sandy Spring Bank
Olney, MD
The Adams National Bank
Washington, DC
United Bank
Fairfax, VA
Wachovia SBA Lending, Inc.
Roseville, CA

Tips for Getting a Business Loan in Chevy Chase

Before reaching out to banks for a 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 essential. If the capital is to for an existing 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked 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. Before meeting with the banker, 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. Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Borrowing Money from Friends and Family.

Business Loan Sources for Other Cities in Maryland
Get a Business Loan in Catonsville
Get a Business Loan in Clinton

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