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

Small Business Lenders in Windsor, Virginia

 
Loan Census SBA Loan Info

Small business loans in Windsor, Virginia are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Windsor, Virginia, we've assembled a list of local small business banks that you should contact.

Local Windsor Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Windsor.

Small Business Bank Recent SBA Loans
Farmers Bank  

Banks that Lend to Windsor Businesses

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

Small Business Bank Recent SBA Loans
Branch Bank & Trust
Winston Salem, NC
1
Wachovia Bank
Charlotte, NC
1

Business Loan Advice for Windsor Businesses

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.

Having a business plan is is critically important. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 your individual retirement account or pension plan. 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 meeting with the 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.

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