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March 28, 2024  
 
 
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Business Loan Rowley, Massachusetts

 
Loan Census SBA Loan Info

Looking for a Rowley, 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 proprietors in Rowley, Massachusetts who are interested in getting a small business loan.

Local Rowley Business Lenders

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

Small Business Bank Recent SBA Loans
Banknorth Massachusetts - Banking Centers  
First National Bank of Ipswich  
Georgetown Savings Bank  

SBA Lenders for Rowley Businesses

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

Small Business Bank Recent SBA Loans
Danversbank
Danvers, MA
3
Eastern Bank
Boston, MA
2
Td Banknorth
Portland, ME
3

Tips for Getting a Business Loan in Rowley

Before meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

Having a business plan is is critically important. If the money 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, you will likely be asked to secure the business with your personal assets, such as the equity in your home. 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 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 new to our Gaebler.com site, you should know that we are all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.

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