Business Loan Brockport, New York

Local Brockport Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Brockport.

Lenders for Brockport Businesses

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

Tips for Getting a Business Loan in Brockport

Before contacting banks to get a bank loan, you will need to have a specific plan.

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 plan to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as the equity in your home. 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 these banks are SBA lenders. Before meeting with the banker, you may want to read up on 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

Gaebler.com is a site that is devoted to helping small business owners, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, we recommend you read Borrowing Money from Friends and Family.