Freeland, Washington Small Business Loans

Local Freeland Banks

To help you learn more about local small business lenders, here's our list of small business banks in Freeland.

Other Lending Resources for Freeland Businesses

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

Freeland Bank Loan Tips

As a prerequisite to contacting banks 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 plan to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the loan is to for a company that is already doing business, 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 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on 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

Gaebler.com is a site that is all about supporting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read 504 Loans.