Small Business Lenders in Hockessin, Delaware

Local Hockessin Business Loan Sources

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

Banks that Lend to Hockessin Businesses

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

Business Loan Advice for Hockessin Businesses

As a prerequisite to contacting banks 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

A well-defined business plan is is critically important. 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 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, the bank may ask you to to to guarantee the loan with 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 the banks in our list 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

If you are new to our Gaebler.com site, you should know that we are devoted to helping small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Microlending as a Small Business Funding Source.