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

Bordentown, New Jersey Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Bordentown, New Jersey seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Bordentown, New Jersey who are interested in getting a bank loan.

Local Bordentown Banks

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

Small Business Bank Recent SBA Loans
Farmers & Mechanics Bank  
New Jersey National Bank A Corestates Bank  

SBA Lenders for Bordentown Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
6
Business Lenders, LLC
Hartford, CT
1
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Commerce Bank
Philadelphia, PA
8
Hopewell Valley Community Bank
Pennington, NJ
2
New York Community Bank
North Brunswick, NJ
1
Pnc Bank, National Association
Philadelphia, PA
1
Pnc Bank, National Association
Pittsburgh, PA
1
Sovereign Bank
Villanova, PA
1
The Bank
Woodbury, NJ
1
Unity Bank
Clinton, NJ
2
Valley National Bank
North Plainfield, NJ
1
Wachovia SBA Lending, Inc.
Roseville, CA
1

Bordentown Business Loan Advice

As a prerequisite to meeting with lenders 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 lender.

A well-defined business plan is essential. If the money is to for a company that is already doing business, 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 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.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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