Small Business Lenders in Falmouth, Massachusetts

Local Falmouth Business Lenders

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

SBA Lenders for Falmouth Businesses

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

Business Loan Advice for Falmouth Businesses

Before contacting 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 plan to pay the loan back to the lender.

Having a business plan is is critically important. If the money is to for a going concern, 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 secure the business 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 these banks 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 dedicated to supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we would suggest you read 504 Loans.