If you are planning on applying for a small business loan and your business is based in Duxbury, Massachusetts, we've put together a list of local small business banks that you should contact.
Local Duxbury Lenders
Without further adieu, here's our list of small business banks in Duxbury.
Small Business Bank |
Recent SBA Loans |
Eastern Bank |
|
Rockland Trust |
|
SBA Lenders for Duxbury Businesses
This is a list of banks outside of Duxbury, Massachusetts that have provided SBA loans to Duxbury businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Bank Of America
Charlotte, NC |
1 |
Bank Of America
Providence, RI |
2 |
Capital One
Mclean, VA |
3 |
Century Bank And Trust Company
Braintree, MA |
1 |
Century Bank And Trust Company
Medford, MA |
2 |
Cit Small Business Lending Corp
Livingston, NJ |
1 |
Rbs Citizens
Cranston, RI |
1 |
Rbs Citizens
Providence, RI |
3 |
Rockland Trust Company
Rockland, MA |
2 |
South Shore Co-operative Bank
Weymouth, MA |
1 |
Sovereign Bank
Villanova, PA |
3 |
Business Loan Advice for Duxbury Businesses
As a prerequisite to contacting lenders 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 lender.
A well-defined business plan is essential. If the loan 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 you cannot repay the loan.
If the business has few assets, you will likely be asked to pledge 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 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
Make the effort and learn as much as you can about Raising
Money. For starters, we recommend you read
Borrowing Money from Friends and Family.
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