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

Kittery Point, Maine Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Kittery Point, Maine who are interested in getting a bank loan.

Banks that Lend to Kittery Point Businesses

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

Small Business Bank Recent SBA Loans
Rbs Citizens
Providence, RI
1
Td Banknorth
Portland, ME
1

Kittery Point Business Loan Advice

Before meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the bank.

Having a business plan is essential. If the bank 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. Before you sit down to talk with a small business banker, you may want to do your homework 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

Our Gaebler.com site is passionate about providing advice to small business owners, and we have a lot of useful articles about to Raising Money. If you want to learn about raising money, we would suggest you read SBIR Funding.

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