This article is written specifically for entrepreneurs in Presque Isle, Maine who are interested in getting debt financing.
Local Presque Isle Lending Resources
Without further adieu, here's our list of small business banks in Presque Isle.
Small Business Bank |
Recent SBA Loans |
Aroostook County Federal Savings & Loan Association - Branch OFC |
|
First Citizens Bank - Telephone Banking |
|
Katahdin Trust Co. |
2 |
Katahdin Trust Company - Presque Isle Office |
|
Keybank - Keycenters- Aroostook Centre Mall |
|
Keybank - Keycenters- Presque Isle State St |
|
Peoples Heritage Bank |
|
Savings Bank Of Maine |
2 |
Other Lending Resources for Presque Isle Businesses
This is a list of banks outside of Presque Isle, Maine that have provided SBA loans to Presque Isle businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Presque Isle
As a prerequisite to contacting lenders 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the lender.
A well-defined business plan is essential. If the capital is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 meeting with the banker, 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
Gaebler.com is a site that is deeply committed to aiding entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. For example, we recommend you read Business Credit Evaluation.
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