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December 24, 2024  
 
 
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Business Loan Chilhowie, Virginia

 
Loan Census SBA Loan Info

Looking for a Chilhowie, Virginia small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business proprietors in Chilhowie, Virginia who are interested in getting a small business loan.

Local Chilhowie Lending Resources

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

Small Business Bank Recent SBA Loans
BB & T - Branches- Chilhowie- ATM Location  

Other Lending Resources for Chilhowie Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
1
First B & T Financial Services
Bristol, VA
1

Tips for Getting a Business Loan in Chilhowie

Prior to contacting lenders to discuss getting a bank 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, define how the money will be used, and show how you intend to to pay the money back to the lender.

Having a business plan is essential. If the money is to for an existing business, 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, the bank may ask you to to to guarantee the loan 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. Before meeting with the banker, 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 all about supporting entrepreneurs, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, we would suggest you read Only Idiots Send Venture Capitalists Business Plans.

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