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December 24, 2024  
 
 
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Business Loan Wilbraham, Massachusetts

 
Loan Census SBA Loan Info

Looking for a Wilbraham, Massachusetts small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business owners in Wilbraham, Massachusetts who are interested in getting a small business loan.

Local Wilbraham Lenders

Without further adieu, here's our list of small business banks in Wilbraham.

Small Business Bank Recent SBA Loans
Citizens Bank - Branch Locations- Wilbraham  
Country Bank for Savings  
Hampden Bank - Branches  
Monson Savings Bank  

Other Lending Resources for Wilbraham Businesses

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

Small Business Bank Recent SBA Loans
Bank - Western Massachusetts
Springfield, MA
1
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
1
Bank Of America
Waltham, MA
1
Capital One
Mclean, VA
1
Monson Savings Bank
Monson, MA
1
Rbs Citizens
Providence, RI
1
Td Banknorth
Portland, ME
5
United Bank
West Springfield, MA
1

Tips for Getting a Business Loan in Wilbraham

As a prerequisite to meeting with lenders for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the loan 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 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 pledge your personal assets, such as your individual retirement account or pension plan. 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 the banks in our list are SBA lenders. 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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