Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Business Loan Montross, Virginia

 
Loan Census SBA Loan Info

Getting a business loan in Montross, Virginia seems challenging at first, but we're here to help you get started.

These materials were prepared for small business proprietors in Montross, Virginia who are interested in getting debt financing.

Local Montross Business Lenders

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

Small Business Bank Recent SBA Loans
Bank of Lancaster - Montross  

Banks that Lend to Montross Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
3
Evb
Heathsville, VA
1

Tips for Getting a Business Loan in Montross

As a prerequisite to meeting with banks to get a bank 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

Having a business plan is essential. If the financing is to for a going concern, 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 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 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 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review SBIR Funding.

Business Loan Sources for Other Cities in Virginia
Get a Business Loan in Mechanicsville
Get a Business Loan in Newport News

Browse All Business Loan Sources for Virginia