Business Loan East Rockaway, New York

Local East Rockaway Lenders

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

Banks that Lend to East Rockaway Businesses

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

Tips for Getting a Business Loan in East Rockaway

As a prerequisite to meeting with banks to get a bank 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 your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the loan 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 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 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 you sit down to talk with a small business 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 entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we would suggest you read 504 Loans.