You will be paired with an analyst whose specialty matches your business needs. I don't want the world to know everything I discuss, especially if I provide financial or proprietary information about my business. The Virginia Small Business Development Center network is here to help you do just that. The kind of financing most entrepreneurs seek through commercial lenders is debt financing. Most banks provide debt financing for existing and start-up businesses.
Banks vary substantially in their lending practices.
While one bank may decline your loan application, another may be willing to take a higher risk or be interested in lending to small businesses. It is advisable to understand a bank's lending guidelines before applying for a loan. Your local SBDC will assist you in preparing loan documentation, as well as matching you with a variety of SBA loan programs you might qualify for. Licensing and permitting requirements vary from location to location and between different business types. A business license from the city, town, or county in which your business will be located.