Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Huntingtown, Maryland Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Huntingtown, Maryland who are interested in getting debt financing.

SBA Lenders for Huntingtown Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
3
Business Loan Center, LLC
Richmond, VA
1
Community Bank Of Tri-county
Waldorf, MD
1
Hanmi Bank
Los Angeles, CA
1
Innovative Bank
Oakland, CA
2
Mainstreet Bank
Herndon, VA
1
Manufacturers & Traders Trust
Towson, MD
2
Maryland Bank & Trust Natl
Lexington Park, MD
2
Suntrust Bank
Richmond, VA
1
Wilshire State Bank
Los Angeles, CA
1

Huntingtown Business Loan Advice

Before reaching out to banks to discuss getting 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 your ability to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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, the bank may ask you to to secure the business 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. Before you sit down to talk with a small business 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.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Only Idiots Send Venture Capitalists Business Plans.

Business Loan Sources for Other Cities in Maryland
Get a Business Loan in Havre De Grace
Get a Business Loan in Hyattsville

Browse All Business Loan Sources for Maryland