Small Business Lenders in Stratford, Connecticut

Local Stratford Banks

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

Other Lending Resources for Stratford Businesses

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

Business Loan Advice for Stratford Businesses

Prior to reaching out to lenders 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the lender.

Having a business plan is an important prerequisite. If the loan 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 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 to guarantee the loan with your personal assets, such as the equity in your home. 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 are SBA lenders. 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 new to our Gaebler.com site, you should know that we are all about aiding small business owners, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we would suggest you read Bank Credit Lines.