If you are planning on applying for a small business loan and your business is based in Remington, Virginia, we've assembled a list of local small business banks that you should contact.
Local Remington Lending Resources
To help you learn more about local small business lenders, here's our list of small business banks in Remington.
Small Business Bank |
Recent SBA Loans |
First Virginia Bank - Haymarket Office- Remington |
|
Other Lending Resources for Remington Businesses
This is a list of banks outside of Remington, Virginia that have provided SBA loans to Remington businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Remington Businesses
As a prerequisite to meeting with banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.
A well-defined business plan is is critically important. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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 are SBA lenders. Before you sit down to talk with a small business banker, you may want to do your homework 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
Make the effort and learn as much as you can about Raising
Money. For starters, we recommend you read
Business Credit Evaluation.
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