Small Business Lenders in Emerson, New Jersey

Local Emerson Lenders

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

Banks that Lend to Emerson Businesses

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

Business Loan Advice for Emerson Businesses

Prior to contacting banks for a 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the bank loan is to for a company that is already doing 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, the bank may ask you to 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 are SBA lenders. 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.

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Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read How Much Venture Capital Is There?.