Small Business Lenders in Wake Forest, North Carolina

Local Wake Forest Business Lenders

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

Banks that Lend to Wake Forest Businesses

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

Business Loan Advice for Wake Forest Businesses

Before meeting with banks to get a bank 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 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 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, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 you sit down to talk with a small business 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 deeply committed to helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we recommend you read 504 Loans.