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April 20, 2024 |
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| Home > Small Business Lenders by State > Maryland Banks > Kensington, Maryland Bank Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Kensington, Maryland Small Business Loans |
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Looking for a Kensington, 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. If you are planning on applying for a small business loan and your business is based in Kensington, Maryland, we've assembled a list of local small business banks that you should contact. Local Kensington Business Loan Sources To help you learn more about local small business lenders, here's our list of small business banks in Kensington.
SBA Lenders for Kensington Businesses This is a list of banks outside of Kensington, Maryland that have provided SBA loans to Kensington businesses. Some of these may be national banks with local branch locations.
Kensington Bank Loan Tips As a prerequisite to meeting with banks for a loan, you will need to develop the specifics of your loan request. 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 plan to pay the loan back to the bank. Being able to present a well-written business plan is is critically important. If the financing is to for an existing business, 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, the bank may ask you to to secure the business with 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 these banks 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 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Getting a Small Business Loan. Get a Business Loan in Jessup Get a Business Loan in La Plata Browse All Business Loan Sources for Maryland
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