Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Cotuit, Massachusetts Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Cotuit, Massachusetts seems challenging at first, but we're here to help you get started.

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

Local Cotuit Banks

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

Small Business Bank Recent SBA Loans
First National Systems Corporation  

Business Loan Providers for Cotuit Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
3
Capital One
Mclean, VA
1
Rbs Citizens
Boston, MA
1
Rbs Citizens
Providence, RI
1
Rockland Trust Company
Rockland, MA
1

Cotuit Business Loan Advice

As a prerequisite to contacting lenders 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, 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 the banks in our list are SBA lenders. Before meeting with the 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

More Business Lender Lists for Massachusetts Cities
Get a Business Loan in Clinton
Get a Business Loan in Danvers

Browse All Business Loan Sources for Massachusetts