Loan Census Banking News and Information
November 21, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Albany, New York

 
Loan Census SBA Loan Info

Small business loans in Albany, New York are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Albany, New York, we've put together a list of local small business banks that you should contact.

Local Albany Lenders

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

Small Business Bank Recent SBA Loans
1st National Bank of Scotia  
Albany Savings Bank  
Berkshire Bank  
Capital Bank & Trust Company 1
Charter One Bank - Branch Locations- Albany  
Charter One Bank - Branch Locations- East Greenbush Hannaford Plaza  
Charter One Bank - Branch Locations- Guilderland  
Charter One Bank - Branch Locations- Loudonville  
Charter One Bank - In-Store Hannaford- Albany  
Citibank  
Commerce Technologies Inc  
Diebold Incorporated  
Empire St. Cert. Devel Corp 2
First Niagara Bank 2
Fiserv  
Flagstar Bank  
New York Business Devel Corp 321
State Empl Fcu 14

Lenders for Albany Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
2
Bank Of America
Charlotte, NC
6
Bank Of America
Providence, RI
50
Beal Bank, D/b/a Beal Bank
Plano, TX
1
Berkshire Bank
Pittsfield, MA
1
Business Loan Center, LLC
New York, NY
1
Business Loan Center, LLC
Richmond, VA
1
Capital One
Mclean, VA
14
Cit Small Business Lending Corp
Livingston, NJ
4
Comerica Bank
Dallas, TX
1
Commerce Bank
Philadelphia, PA
1
First National Bank Of Scotia
Guilderland, NY
1
First National Bank Of Scotia
Scotia, NY
4
First Niagara Bank
Hudson, NY
5
First Niagara Bank
Lockport, NY
9
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Hsbc Bank Usa
Buffalo, NY
21
Hsbc Bank Usa
Syracuse, NY
12
Jpmorgan Chase Bank
Houston, TX
1
Keybank National Association
Cleveland, OH
23
Manufacturers & Traders Trust
Amherst, NY
19
Manufacturers & Traders Trust
Buffalo, NY
19
Manufacturers & Traders Trust
Towson, MD
1
Nbt Bank, National Association
Norwich, NY
1
Rbs Citizens
Cleveland, OH
2
Rbs Citizens
Providence, RI
51
Small Business Loan Source LLC
Houston, TX
1
Stearns Bank
Saint Cloud, MN
2
Td Banknorth
Glens Falls, NY
3
Td Banknorth
Portland, ME
8
The Adirondack Trust Company
Saratoga Springs, NY
1
The Bank Of Bennington
Bennington, VT
2
Trustco Bank
Glenville, NY
1
Unity Bank
Clinton, NJ
2

Business Loan Advice for Albany Businesses

Prior to contacting lenders for a loan, you will need to develop the specifics of your loan request.

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 intend to to pay the money back to the lender.

Having a business plan is is critically important. If the money is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 to guarantee the loan 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 do your homework 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Incubators.

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