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December 24, 2024  
 
 
  Business Loan Information  
 

Chatham, Virginia Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business owners in Chatham, Virginia who are interested in getting a bank loan.

Other Lending Resources for Chatham Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Innovative Bank
Oakland, CA
4
River Commun Bank
Martinsville, VA
2
United Central Bank
Garland, TX
1
Ups Capital Business Credit
Windsor, CT
1

Chatham Business Loan Advice

Before reaching out to banks for a 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge your personal assets, such as the equity in your home. 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 these banks 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read Attracting Investors.

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