Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Bath, Maine

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Bath, Maine, we've put together a list of local small business banks that you should contact.

Local Bath Lending Resources

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

Small Business Bank Recent SBA Loans
Bank of America  
Bath Savings Institution 36
Bath Savings Trust Company 2
First Fed. S & L Assoc - Bath 1
First Federal Savings & Loan Association  
Fleet Bank  
Gardiner Savings Institution FSB  
Keybank - Keycenters- Bath  

Business Loan Providers for Bath Businesses

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

Small Business Bank Recent SBA Loans
Androscoggin Savings Bank
Lewiston, ME
2
Bank Of America
Charlotte, NC
2
Bank Of America
Providence, RI
1
Northeast Bank
Brunswick, ME
1
Northeast Bank
Lewiston, ME
1
Savings Bank Of Maine
Brunswick, ME
1
Td Banknorth
Portland, ME
1

Business Loan Advice for Bath Businesses

Prior to contacting banks to get 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, define how the money will be used, 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 capital is to for an existing 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 to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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

Invest the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Bank Credit Lines.

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