Colonial Beach, Virginia Small Business Loans

Local Colonial Beach Lenders

Without further adieu, here's our list of small business banks in Colonial Beach.

SBA Lenders for Colonial Beach Businesses

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

Colonial Beach Bank Loan Tips

As a prerequisite to contacting banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. 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 guarantee 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 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 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

If you are new to our Gaebler.com site, you should know that we are deeply committed to providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Getting a Small Business Loan.