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December 24, 2024  
 
 
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Business Loan South Attleboro, Massachusetts

 
Loan Census SBA Loan Info

Small business loans in South Attleboro, Massachusetts are available. You just need to talk to the right bank.

We wrote this article for small business proprietors in South Attleboro, Massachusetts who are interested in getting a bank loan.

Business Loan Providers for South Attleboro Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
7
Bank Rhode Island
Providence, RI
1
Rbs Citizens
Boston, MA
2
Rbs Citizens
Providence, RI
2
Sovereign Bank
Boston, MA
1

Tips for Getting a Business Loan in South Attleboro

Prior to meeting with banks for a loan, you will need to have a specific plan.

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 bank.

Having a 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. 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 pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 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 it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read SBIR Funding.

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