Metuchen, New Jersey Business Loan

Local Metuchen Lenders

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

Banks that Lend to Metuchen Businesses

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

Metuchen Business Loan Advice

As a prerequisite to meeting with banks for a 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the financing 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 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 secure the business with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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

Our Gaebler.com site is devoted to providing advice to small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, we recommend you read Bank Credit Lines.