Mclean, Virginia Small Business Loans

Local Mclean Business Loan Sources

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

Other Lending Resources for Mclean Businesses

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

Mclean Bank Loan Tips

Prior to reaching out to lenders to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

Having a business plan is is critically important. If the financing 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 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, you will likely be asked to pledge your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. 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 useful articles about to Raising Money. For example, one article that might be of interest to you is 504 Loans.