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March 28, 2024  
 
 
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Small Business Lenders in Edgemere, Maryland

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Edgemere, Maryland, we've put together a list of local small business banks that you should contact.

Banks that Lend to Edgemere Businesses

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

Small Business Bank Recent SBA Loans
Suntrust Bank
Richmond, VA
1

Business Loan Advice for Edgemere Businesses

Before contacting lenders to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

A well-defined business plan is is critically important. If the capital is to for a going concern, 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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 participate in the financial assistance programs available through the SBA. 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Realistic Debt Financing Options.

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