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

West Point, Virginia Small Business Loans

 
Loan Census SBA Loan Info

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

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

Local West Point Lenders

To assist you in finding a small business banker, here's our list of small business banks in West Point.

Small Business Bank Recent SBA Loans
Bank Operations Consulting  
Citizen & Farmers Bank  
Citizen and Farmers Bank  
Citizens & Farmers Bank 22
Citizens and Farmers Bank  

Business Loan Providers for West Point Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
1

West Point Bank Loan Tips

Before contacting banks to discuss getting a bank 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 plan to pay the loan back to the bank.

A well-defined business plan is essential. If the financing is to for a going concern, 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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 meeting with the banker, you may want to read up on 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 devoted to helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read 504 Loans.

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