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

Business Loan Towson, Maryland

 
Loan Census SBA Loan Info

Getting a business loan in Towson, Maryland seems challenging at first, but we're here to help you get started.

This article is written specifically for entrepreneurs in Towson, Maryland who are interested in getting debt financing.

Local Towson Lenders

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

Small Business Bank Recent SBA Loans
1st Mariner Bank  
Americas Bank  
Atlantic Federal Savings Bank  
Baltimore American Savings  
Bank Of America  
BB & T - Baltimore County- Towson  
Carrollton Bank - Commercial Banking- Baltimore County Branch Offices  
Columbia Bank  
Extra Cash ATM  
First National Bank of Maryland 347-6000  
First Union Bank  
Hamilton Federal Bank  
Lasalle National Leasing Corporation  
M & T Bank  
Manufacturers & Traders Trust 1,060
Maryland Credit Union League Inc  
Mercantile Bank and Trust  
Nationsbank  
Provident Bank  
Susquehanna Bank 8

Lenders for Towson Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
21
Branch Bank & Trust
Frederick, MD
1
Business Lenders, LLC
Hartford, CT
1
Capital One
Mclean, VA
4
Carrollton Bank
Baltimore, MD
1
Chesapeake Bank Of Maryland
Baltimore, MD
1
Cit Small Business Lending Corp
Livingston, NJ
1
Colombo Bank
Rockville, MD
1
Innovative Bank
Oakland, CA
9
K Bank
Owings Mills, MD
3
Manufacturers & Traders Trust
Amherst, NY
4
Manufacturers & Traders Trust
Baltimore, MD
14
Manufacturers & Traders Trust
Buffalo, NY
1
Pnc Bank, National Association
Elkton, MD
1
Pnc Bank, National Association
Gaithersburg, MD
1
Pnc Bank, National Association
Pittsburgh, PA
4
Provident Bank Of Maryland
Baltimore, MD
2
Provident Bank Of Maryland
Warrenton, VA
2
Regal Bank & Trust
Owings Mills, MD
6
Suntrust Bank
Atlanta, GA
2
Suntrust Bank
Richmond, VA
1
Superior Financial Group, LLC
Walnut Creek, CA
2
Susquehanna Bank
Baltimore, MD
3
Susquehanna Bank Pa
Owings Mills, MD
1
The Columbia Bank
Columbia, MD
1
The Columbia Bank
Greenbelt, MD
1
The Patapsco Bank
Dundalk, MD
4
Wachovia Bank
Charlotte, NC
1

Tips for Getting a Business Loan in Towson

Before reaching out to banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing 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, the bank may ask you to to secure the business 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 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

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read Business Line of Credit.

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