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

Shady Spring, West Virginia Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Shady Spring, West Virginia? If so, you'll want to talk to some of these small business lenders in Shady Spring.

If you are looking for a small business loan and your business is based in Shady Spring, West Virginia, we've put together a list of local small business banks that you should contact.

Banks that Lend to Shady Spring Businesses

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

Small Business Bank Recent SBA Loans
Branch Bank & Trust
Winston Salem, NC
1
First Commun Bank
Beckley, WV
1

Shady Spring Bank Loan Tips

Prior to contacting 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 intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the money is to for a company that is already doing 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 pledge 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Cash Advances.

More Business Lender Lists for West Virginia Cities
Get a Business Loan in Princeton
Get a Business Loan in Vienna

Browse All Business Loan Sources for West Virginia