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

Waitsburg, Washington Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business owners in Waitsburg, Washington who are interested in getting debt financing.

Local Waitsburg Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Waitsburg.

Small Business Bank Recent SBA Loans
Americanwest Bank  

Business Loan Providers for Waitsburg Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Wells Fargo Bank
San Jose, CA
1

Waitsburg Business Loan Advice

As a prerequisite to contacting 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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the money 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 to guarantee the loan 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

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 Bank Credit Lines.

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