If you are hoping to get a small business loan and your business is based in Longport, New Jersey, we've put together a list of local small business banks that you should contact.
Local Longport Lenders
Without further adieu, here's our list of small business banks in Longport.
Small Business Bank |
Recent SBA Loans |
Meridian Bank |
|
Lenders for Longport Businesses
This is a list of banks outside of Longport, New Jersey that have provided SBA loans to Longport businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Longport Businesses
Prior to reaching out to lenders 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.
Being able to present a well-written business plan is essential. If the capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 serious about Raising
Money, you need to get up to speed on the subject. If you haven't read it
already, we recommend you review
Attracting Investors.
Business Loan Sources for Other Cities in New Jersey
Get a Business Loan in Long Branch
Get a Business Loan in Lyndhurst
Browse All Business Loan Sources for New Jersey