If you are planning on applying for a small business loan and your business is based in Corbin City, New Jersey, we've assembled a list of local small business banks that you should contact.
SBA Lenders for Corbin City Businesses
This is a list of banks outside of Corbin City, New Jersey that have provided SBA loans to Corbin City businesses. Some of these may be national banks with local branch locations.
Corbin City Bank Loan Tips
Before meeting with 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 intend to to pay the money back to the bank.
A well-defined business plan is essential. If the financing is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, 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 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.
Gaebler.com Advice on Raising Money
If you are planning on Raising
Money, you need to learn as much as you can. If you haven't read it
already, we recommend you review
Business Credit Evaluation.
Business Loan Sources for Other Cities in New Jersey
Get a Business Loan in Colonia
Get a Business Loan in Cranford
Browse All Business Loan Sources for New Jersey