Business Loan Amityville, New York

Local Amityville Lenders

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

SBA Lenders for Amityville Businesses

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

Tips for Getting a Business Loan in Amityville

Before reaching out to banks 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 how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to to pledge 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 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 new to our Gaebler.com site, you should know that we are all about assisting small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.