Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Oak Harbor, Washington

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Oak Harbor, Washington who are interested in getting debt financing.

Local Oak Harbor Lending Resources

Without further adieu, here's our list of small business banks in Oak Harbor.

Small Business Bank Recent SBA Loans
Keybank - Keycenter  
Keycorp Mortgage Inc  
Peoples Bank  
U S Bank  
Washington Federal Savings  
Whidbey Island Bank 169

SBA Lenders for Oak Harbor Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
4
Capital One
Mclean, VA
3
Cit Small Business Lending Corp
Livingston, NJ
1
City Bank
Lynnwood, WA
1
First Heritage Bank
Snohomish, WA
2
Keybank National Association
Cleveland, OH
1
Kitsap Bank
Port Orchard, WA
2
Pacific City Bank
Los Angeles, CA
1
Peoples Bank
Lynden, WA
5
Superior Financial Group, LLC
Walnut Creek, CA
1
U.S. Bank National Association
Cincinnati, OH
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Wells Fargo Bank
Lynnwood, WA
1
Wells Fargo Bank
San Jose, CA
7
Whidbey Island Bank
Burlington, WA
7
Whidbey Island Bank
Sedro Woolley, WA
1
Wilshire State Bank
Los Angeles, CA
1

Tips for Getting a Business Loan in Oak Harbor

As a prerequisite to 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 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

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read Borrowing Money from Friends and Family.

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