Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Little Falls, New York Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Little Falls, New York seems challenging at first, but we're here to help you get started.

This article is written specifically for small business proprietors in Little Falls, New York who are interested in getting debt financing.

Local Little Falls Lenders

Without further adieu, here's our list of small business banks in Little Falls.

Small Business Bank Recent SBA Loans
Fleet Bank  

Banks that Lend to Little Falls Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
3
Independence Bank
East Greenwich, RI
1
Keybank National Association
Cleveland, OH
2
Manufacturers & Traders Trust
Herkimer, NY
1
Manufacturers & Traders Trust
Utica, NY
1
Merrill Lynch Bank Usa
Salt Lake City, UT
1

Little Falls Business Loan Advice

As a prerequisite 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.

Having a 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 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

If you are new to our Gaebler.com site, you should know that we are deeply committed to supporting 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 504 Loans.

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