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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Banks > Meriden, Connecticut Bank Loans | |||||||||||||||||
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Small Business Lenders in Meriden, Connecticut |
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Looking for a Meriden, Connecticut small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you. If you are hoping to get a small business loan and your business is based in Meriden, Connecticut, we've put together a list of local small business banks that you should contact. Local Meriden Lending Resources Without further adieu, here's our list of small business banks in Meriden.
Lenders for Meriden Businesses This is a list of banks outside of Meriden, Connecticut that have provided SBA loans to Meriden businesses. Some of these may be national banks with local branch locations. Business Loan Advice for Meriden Businesses Prior to meeting with lenders for a loan, you will need to determine exactly what size loan you will be asking for. 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. A well-defined business plan is an important prerequisite. If the capital is to for a going concern, 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 cash flow from the business does not meet your projections. If the business has few assets, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 meeting with the 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 Gaebler.com is a site that is dedicated to aiding small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, we would suggest you read Getting a Small Business Loan. Get a Business Loan in Kensington Get a Business Loan in Middletown Browse All Business Loan Sources for Connecticut
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