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December 24, 2024  
 
 
  Business Loan Information  
 

Business Loan Mountainside, New Jersey

 
Loan Census SBA Loan Info

Small business loans in Mountainside, New Jersey are available. You just need to talk to the right bank.

These materials were prepared for small business proprietors in Mountainside, New Jersey who are interested in getting a bank loan.

Other Lending Resources for Mountainside Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
6
Bnb Bank, National Association
Fort Lee, NJ
1
Commerce Bank
Philadelphia, PA
3
Jpmorgan Chase Bank
Houston, TX
1
Pnc Bank, National Association
Philadelphia, PA
1
Valley National Bank
North Plainfield, NJ
1

Tips for Getting a Business Loan in Mountainside

Before reaching out to banks for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Having a business plan is essential. If the capital 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, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 these banks 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 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Getting a Small Business Loan.

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