Loan Census Banking News and Information
December 3, 2024  
 
 
  Business Loan Information  
 

Business Loan Harrisville, Rhode Island

 
Loan Census SBA Loan Info

Small business loans in Harrisville, Rhode Island are available. You just need to talk to the right bank.

These materials were prepared for entrepreneurs in Harrisville, Rhode Island who are interested in getting a bank loan.

Other Lending Resources for Harrisville Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
1
Coastway Cu
Cranston, RI
4
Rbs Citizens
Providence, RI
17
Sovereign Bank
Villanova, PA
1
Sovereign Bank
Wyomissing, PA
1

Tips for Getting a Business Loan in Harrisville

As a prerequisite to meeting with 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

A well-defined business plan is essential. If the 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 secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

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 you sit down to talk with a small business 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

Our Gaebler.com site is deeply committed to aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Getting a Small Business Loan.

Business Loan Sources for Other Cities in Rhode Island
Get a Business Loan in Greenville
Get a Business Loan in Newport

Browse All Business Loan Sources for Rhode Island