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December 24, 2024  
 
 
  Business Loan Information  
 

East Harwich, Massachusetts Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in East Harwich, Massachusetts, we've put together a list of local small business banks that you should contact.

Banks that Lend to East Harwich Businesses

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

Small Business Bank Recent SBA Loans
Rbs Citizens
Providence, RI
2
Td Banknorth
Portland, ME
1

East Harwich Bank Loan Tips

As a prerequisite to reaching out to lenders to get 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 how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 pledge your personal assets, such as the equity in your home. 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 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

Make the effort and learn as much as you can about Raising Money. To get started, we suggest you read 504 Loans.

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