Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Greenfield, Massachusetts

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Greenfield, Massachusetts, we've put together a list of local small business banks that you should contact.

Local Greenfield Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank Of America  
Banknorth Massachusetts - Banking Centers  
Citizens Bank - Stop & Shop  
Fleet Private Clients Group  
Greenfield Co-operative Bank 59
Greenfield Savings Bank 28
The Bank of Western Massachusetts  

Business Loan Providers for Greenfield Businesses

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

Small Business Bank Recent SBA Loans
Bank - Western Massachusetts
Springfield, MA
5
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
1
Capital One
Mclean, VA
1
Rbs Citizens
Boston, MA
2
Rbs Citizens
Providence, RI
2
Td Banknorth
Pittsfield, MA
1
Td Banknorth
Portland, ME
2

Business Loan Advice for Greenfield Businesses

Prior to contacting lenders for a loan, you will need to develop the specifics of your loan request.

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.

Being able to present a well-written business plan is essential. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Getting a Small Business Loan.

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