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March 28, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Grafton, West Virginia

 
Loan Census SBA Loan Info

Getting a business loan in Grafton, West Virginia seems challenging at first, but we're here to help you get started.

If you are looking for a small business loan and your business is based in Grafton, West Virginia, we've put together a list of local small business banks that you should contact.

Local Grafton Banks

To assist you in finding a small business banker, here's our list of small business banks in Grafton.

Small Business Bank Recent SBA Loans
BB & T - Branches- Grafton  
First Commun Bank 1
First Community Bank Loans  

Other Lending Resources for Grafton Businesses

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

Small Business Bank Recent SBA Loans
Brattleboro S & L Association
Brattleboro, VT
1
Ameribank
Saint Clairsville, OH
1
Branch Bank & Trust
Winston Salem, NC
1
Innovative Bank
Oakland, CA
2
The Huntington National Bank
Columbus, OH
8

Business Loan Advice for Grafton Businesses

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 explain your business, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

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. 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, you will likely be asked to to guarantee the loan with 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to read up on 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 dedicated to aiding small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Business Line of Credit.

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