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

Small Business Lenders in Felton, Delaware

Loan Census SBA Loan Info

I need a loan for my business in Felton, Delaware! If that's what's on your mind, you've come to the right place.

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

Local Felton Business Loan Sources

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

Small Business Bank Recent SBA Loans
First National Bank of Wyoming - Branch  
First State Aerial Applicators Inc  
The Felton Bank 2

Other Lending Resources for Felton Businesses

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

Small Business Bank Recent SBA Loans
Artisans' Bank
Dover, DE
Capital One
Mclean, VA
Easton Bank And Trust Company
Easton, MD
Innovative Bank
Oakland, CA
Rbs Citizens
Providence, RI
Wilmington Trust Company
Wilmington, DE

Business Loan Advice for Felton Businesses

Before contacting lenders 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.

A well-defined business plan is essential. If the loan 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 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 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 these banks 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

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read How Equity Dilution Works.

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