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

Winooski, Vermont Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Winooski, Vermont who are interested in getting a small business loan.

Local Winooski Lenders

Without further adieu, here's our list of small business banks in Winooski.

Small Business Bank Recent SBA Loans
Banknorth Vermont - Banking Centers- Winooski  
Citizens Bank  
Keybank  

SBA Lenders for Winooski Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Chittenden Trust Company
Burlington, VT
2
Rbs Citizens
Providence, RI
2
Td Banknorth
Portland, ME
2
The Merchants Bank
South Burlington, VT
1

Winooski Business Loan Advice

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

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.

Having a business plan is essential. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to guarantee 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 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 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

Our Gaebler.com site is dedicated to supporting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is Business Incubators.

Business Loan Sources for Other Cities in Vermont
Get a Business Loan in South Burlington

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