Small Business Lenders in Westminster, South Carolina

Local Westminster Lending Resources

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

Other Lending Resources for Westminster Businesses

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

Business Loan Advice for Westminster Businesses

As a prerequisite to contacting lenders for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the lender.

Being able to present a well-written business plan is essential. If the loan 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 secure the business with your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. Prior to visiting local banks, 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 aiding entrepreneurs, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is 504 Loans.