Loan Census Banking News and Information
December 23, 2024  
 
 
  Business Loan Information  
 

New Suffolk, New York Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in New Suffolk, New York, we've put together a list of local small business banks that you should contact.

Banks that Lend to New Suffolk Businesses

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

Small Business Bank Recent SBA Loans
Jpmorgan Chase Bank
Houston, TX
2

New Suffolk Bank Loan Tips

Prior to reaching out to banks to get a bank 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, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Being able to present a well-written 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. 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 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 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 do your homework 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 planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Investor Turnoffs.

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