Kensington, Connecticut Small Business Loans

Local Kensington Business Lenders

Without further adieu, here's our list of small business banks in Kensington.

SBA Lenders for Kensington Businesses

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

Kensington Bank Loan Tips

Before contacting lenders to discuss getting 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 your ability to pay the loan back to the lender.

Having a 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 pledge 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 you sit down to talk with a small business 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

If you are new to our Gaebler.com site, you should know that we are dedicated to aiding small business owners, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is Business Line of Credit.