This article is written specifically for entrepreneurs in Blackwood, New Jersey who are interested in getting a small business loan.
Local Blackwood Business Loan Sources
To assist you in finding a small business banker, here's our list of small business banks in Blackwood.
Small Business Bank |
Recent SBA Loans |
Commerce Bank |
|
Gloucester County Federal Savings Bank |
|
Hudson United Bank |
|
Business Loan Providers for Blackwood Businesses
This is a list of banks outside of Blackwood, New Jersey that have provided SBA loans to Blackwood businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Bank Of America
Charlotte, NC |
1 |
Bank Of America
Providence, RI |
4 |
Cit Small Business Lending Corp
Livingston, NJ |
1 |
Commerce Bank
Flemington, NJ |
1 |
Commerce Bank
Philadelphia, PA |
9 |
First Tennessee Bank
Memphis, TN |
1 |
Hsbc Bank Usa
Syracuse, NY |
1 |
Pnc Bank, National Association
Philadelphia, PA |
2 |
Pnc Bank, National Association
Pittsburgh, PA |
9 |
Rbs Citizens
Providence, RI |
9 |
Susquehanna Bank Dv
Bryn Mawr, PA |
1 |
Td Banknorth
Mahwah, NJ |
3 |
The Bank
Woodbury, NJ |
2 |
Valley National Bank
North Plainfield, NJ |
1 |
Wachovia Bank
Charlotte, NC |
1 |
Washington Mutual Bank
Henderson, NV |
1 |
Tips for Getting a Business Loan in Blackwood
As a prerequisite to reaching out to lenders for a loan, you will need to have a specific plan.
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 intend to to pay the loan back to the lender.
A well-defined business plan is is critically important. If the capital 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 you cannot repay the loan.
If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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.
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