Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Eldersburg, Maryland

 
Loan Census SBA Loan Info

Looking for a Eldersburg, Maryland small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Local Eldersburg Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank Of America  
K Bank 8

Banks that Lend to Eldersburg Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
4
Business Loan Center, LLC
New York, NY
1
Capital One
Mclean, VA
2
Community W. Bank
Goleta, CA
1
K Bank
Owings Mills, MD
1
K Bank
Pasadena, MD
1
Manufacturers & Traders Trust
Baltimore, MD
1
Manufacturers & Traders Trust
Buffalo, NY
1
Manufacturers & Traders Trust
Towson, MD
1
Pnc Bank, National Association
Frederick, MD
1
Pnc Bank, National Association
Westminster, MD
1
Susquehanna Bank
Baltimore, MD
2
The Harbor Bank Of Maryland
Baltimore, MD
1

Tips for Getting a Business Loan in Eldersburg

As a prerequisite to contacting 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the bank loan 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 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 pledge 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. 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Getting a Small Business Loan.

More Business Loan Info for Maryland
Get a Business Loan in Edgewood
Get a Business Loan in Elkridge

Browse All Business Loan Sources for Maryland