Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Weymouth, Massachusetts

 
Loan Census SBA Loan Info

Small business loans in Weymouth, Massachusetts are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Weymouth, Massachusetts, we've assembled a list of local small business banks that you should contact.

Local Weymouth Business Lenders

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

Small Business Bank Recent SBA Loans
Citizens Bank - Supermarket Branches- Stop N Shop  
Colonial Federal Savings Bank  
Rockland Trust  
South Shore Co-operative Bank 22
Sovereign Bank 1
Wessagussett Mhc 1

Business Loan Providers for Weymouth Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
3
Bank Of America
Providence, RI
5
Capital One
Mclean, VA
3
Community So. Bank D.b.a Commun
Parsons, TN
1
Eastern Bank
Boston, MA
2
Maine Bank & Trust Company
Portland, ME
1
Mercantile Bank & Trust
Boston, MA
1
Rbs Citizens
Boston, MA
4
Rbs Citizens
Cranston, RI
1
Rbs Citizens
Providence, RI
14
Rockland Trust Company
Rockland, MA
2
South Shore Savings Bank
Braintree, MA
1
Sovereign Bank
Abington, MA
1
Sovereign Bank
Boston, MA
1
Sovereign Bank
Villanova, PA
1
Sovereign Bank
Wyomissing, PA
1
Td Banknorth
Portland, ME
2
Unity Bank
Clinton, NJ
1

Business Loan Advice for Weymouth Businesses

As a prerequisite to meeting with banks to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the bank loan is to for a going concern, 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, you will likely be asked to pledge 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 these banks 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 all about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Getting a Small Business Loan.

Business Loan Sources for Other Cities in Massachusetts
Get a Business Loan in Westfield
Get a Business Loan in Whitinsville

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