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

Small Business Lenders in Wayne, West Virginia

 
Loan Census SBA Loan Info

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

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

Local Wayne Lenders

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

Small Business Bank Recent SBA Loans
Bank One - Huntington Area- Wayne  
City National Bank - W. Virginia 1

Lenders for Wayne Businesses

This is a list of banks outside of Wayne, West Virginia that have provided SBA loans to Wayne 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
Business Loan Center, LLC
Panama City Beach, FL
1
City National Bank - W. Virginia
Charleston, WV
2
First Sentry Bank, Inc.
Huntington, WV
1
Innovative Bank
Oakland, CA
1
Jpmorgan Chase Bank
Houston, TX
2
The First State Bank
Barboursville, WV
1

Business Loan Advice for Wayne Businesses

Before reaching out to banks to discuss getting 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.

Being able to present a well-written business plan is an important prerequisite. If the money 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 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 these banks 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 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

Our Gaebler.com site is dedicated to helping small business owners, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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