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

Exmore, Virginia Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Exmore, Virginia! If that's what's on your mind, you've come to the right place.

If you are looking for a small business loan and your business is based in Exmore, Virginia, we've assembled a list of local small business banks that you should contact.

Other Lending Resources for Exmore Businesses

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

Small Business Bank Recent SBA Loans
Community So. Bank D.b.a Commun
Knoxville, TN
1
Small Business Loan Source LLC
Houston, TX
1

Exmore Bank Loan Tips

Prior to reaching out to lenders for a 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.

Having a business plan is essential. If the bank 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 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, you will likely be asked to to guarantee the loan with 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

If you are new to our Gaebler.com site, you should know that we are all about helping small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Attracting Investors.

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