Just because you have a small business doesn’t mean you don’t have big goals! Waypoint Bank loves working with small businesses, helping them grow and thrive. 

Waypoint Bank offers several loan options for small businesses. We are an approved U.S. Small Business Administration lender.  SBA loans are backed by the U.S. government and have low rates and long terms, often making them a desirable option for small business owners. We take the time to make sure you understand this option – as well as others – and evaluate how a loan can set you up for success and if the return on investment will benefit you.

Before applying for any small business loan, there are a few things small business owners can do to prepare for the process:

  • Particularly if the business is a start-up, a detailed business plan will need to be presented. The business plan should include marketing strategies, how the business is different from the competition, and financial forecasts. 
  • Be ready to explain how the loan will be used. Will it be used for new equipment, to manage daily expenses, for business expansion?
  • Know how you will pay back the loan. Make sure your finances are in order. Be realistic on how much you can afford to pay each month.
  • Have documents ready, which include business and personal tax returns, income statements and schedule of liabilities. You can always call our branch in advance to get the required list before your meeting.

Working with a family-owned bank for a small business loan has its perks — there is no cost to apply with us for a bank loan for your business. We offer fixed and variable interest rate loans and can discuss how these options may work for you. 

Waypoint Bank strives to be an exceptional provider of superior financial solutions that promote the small-town approach of putting the customer first while earning their trust in the most friendly and professional manner possible. Stop by your local Waypoint Bank today or schedule an appointment online. 

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