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

Business Loan Delaware City, Delaware

Loan Census SBA Loan Info

Small business loans in Delaware City, Delaware are available. You just need to talk to the right bank.

We wrote this article for small business owners in Delaware City, Delaware who are interested in getting a small business loan.

Local Delaware City Business Lenders

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

Small Business Bank Recent SBA Loans
Artisan's Bank - Branch Offices- New Castle County  
Sun National Bank  
Uniglobe Tour N Travel  
Wachovia - Financial Centers- Glasgow OFC  

Banks that Lend to Delaware City Businesses

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

Small Business Bank Recent SBA Loans
Artisans' Bank
Wilmington, DE
Innovative Bank
Oakland, CA
Pnc Bank, National Association
Pittsburgh, PA

Tips for Getting a Business Loan in Delaware City

Before meeting with banks to get 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 bank.

Being able to present a well-written business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to secure the business with 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 the banks in our list participate in the financial assistance programs available through the SBA. 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 is a site that is dedicated to helping small business owners, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read 504 Loans.

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