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March 28, 2024  
 
 
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Small Business Lenders in North Potomac, Maryland

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in North Potomac, Maryland, we've put together a list of local small business banks that you should contact.

SBA Lenders for North Potomac Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
3
Capital One
Mclean, VA
1
Manufacturers & Traders Trust
Towson, MD
2

Business Loan Advice for North Potomac Businesses

Prior to reaching out to lenders to get a bank 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, describe what the money will finance, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the 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 guarantee 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 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 the banks in our list are SBA lenders. Before meeting with the 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 get up to speed on the subject. If you haven't read it already, we recommend you review Business Cash Advances.

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