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December 24, 2024  
 
 
  Business Loan Information  
 

Business Loan Ocean Grove, New Jersey

 
Loan Census SBA Loan Info

Getting a business loan in Ocean Grove, New Jersey seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Ocean Grove, New Jersey who are interested in getting debt financing.

Local Ocean Grove Banks

Without further adieu, here's our list of small business banks in Ocean Grove.

Small Business Bank Recent SBA Loans
Provident Bank  

Banks that Lend to Ocean Grove Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
5
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Commerce Bank
Philadelphia, PA
1
Commerce Bank
Toms River, NJ
3
Jpmorgan Chase Bank
Houston, TX
1
New Millennium Bank
New Brunswick, NJ
1
Pnc Bank, National Association
Pittsburgh, PA
3
Pnc Bank, National Association
Somerset, NJ
1
Sovereign Bank
Newark, NJ
1
Sun National Bank
Vineland, NJ
1
Unity Bank
Clinton, NJ
2
Ups Capital Business Credit
Windsor, CT
1
Wachovia Bank
Charlotte, NC
1
Wachovia SBA Lending, Inc.
Roseville, CA
1

Tips for Getting a Business Loan in Ocean Grove

Prior to contacting banks for a loan, you will need to develop the specifics of your loan request.

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 bank.

A well-defined business plan is an important prerequisite. If the bank 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, the bank may ask you to to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 meeting with the 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

Our Gaebler.com site is passionate about supporting entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is 504 Loans.

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