Business Loan Churchville, New York

SBA Lenders for Churchville Businesses

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

Tips for Getting a Business Loan in Churchville

Before meeting with lenders for a loan, you will need to determine exactly what size loan you will be asking for.

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 intend to to pay the loan back to the lender.

A well-defined business plan is is critically important. If the loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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.

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Our Gaebler.com site is all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Attracting Investors.