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

Waitsfield, Vermont Business Loan

 
Loan Census SBA Loan Info

Raising money in Waitsfield, Vermont? If so, you'll want to talk to some of these small business lenders in Waitsfield.

This article is written specifically for entrepreneurs in Waitsfield, Vermont who are interested in getting a small business loan.

Local Waitsfield Business Lenders

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

Small Business Bank Recent SBA Loans
Banknorth Vermont  

Banks that Lend to Waitsfield Businesses

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

Small Business Bank Recent SBA Loans
Chittenden Trust Company
Burlington, VT
11
Cit Small Business Lending Corp
Livingston, NJ
1
National Bank Of Middlebury
Middlebury, VT
1
Rbs Citizens
Providence, RI
1
Td Banknorth
Burlington, VT
1
Td Banknorth
Portland, ME
2
The Merchants Bank
South Burlington, VT
2

Waitsfield Business Loan Advice

Prior to reaching out to banks to discuss getting a bank loan, you will need to have a specific plan.

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 bank.

A well-defined business plan is essential. If the capital 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 to guarantee the loan 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 the banks in our list 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 serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Angel Investors.

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