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March 29, 2024  
 
 
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Business Loan Maynard, Massachusetts

 
Loan Census SBA Loan Info

Looking for a Maynard, Massachusetts 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.

We wrote this article for small business owners in Maynard, Massachusetts who are interested in getting a bank loan.

Local Maynard Business Loan Sources

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

Small Business Bank Recent SBA Loans
Middlesex Savings Bank  

Business Loan Providers for Maynard Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Bank Of America
Providence, RI
1
Enterprise Bank & Trust
Leominster, MA
1
Enterprise Bank & Trust
Lowell, MA
1
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Rbs Citizens
Providence, RI
5

Tips for Getting a Business Loan in Maynard

Before reaching out to banks for a loan, you will need to determine exactly what size loan you will be asking for.

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 your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. 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 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, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 meeting with the 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

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read 504 Loans.

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