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

White Stone, Virginia Business Loan

 
Loan Census SBA Loan Info

Raising money in White Stone, Virginia? If so, you'll want to talk to some of these small business lenders in White Stone.

These materials were prepared for entrepreneurs in White Stone, Virginia who are interested in getting a bank loan.

Local White Stone Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank of Lancaster  

SBA Lenders for White Stone Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

White Stone Business Loan Advice

As a prerequisite to meeting with banks to discuss getting a bank 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.

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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to secure the business 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 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 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

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Attracting Investors.

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