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

Belvidere, New Jersey Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Belvidere, New Jersey! If that's what's on your mind, you've come to the right place.

These materials were prepared for small business owners in Belvidere, New Jersey who are interested in getting a bank loan.

Other Lending Resources for Belvidere Businesses

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

Small Business Bank Recent SBA Loans
Newalliance Bank
New Haven, CT
1
Pnc Bank, National Association
Pittsburgh, PA
2
Skylands Community Bank
Hackettstown, NJ
2
Td Banknorth
Saddle Brook, NJ
1
Unitedtrust Bank
Phillipsburg, NJ
3
Unity Bank
Clinton, NJ
1
Valley National Bank
North Plainfield, NJ
2
Washington Mutual Bank
Henderson, NV
1

Belvidere Business Loan Advice

Before reaching out to banks to get a bank 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. The banks will look at your personal credit report 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review How to Raise Money.

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