Orangeburg, New York Small Business Loans

Local Orangeburg Lenders

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

SBA Lenders for Orangeburg Businesses

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

Orangeburg Bank Loan Tips

As a prerequisite to contacting banks to discuss getting a bank 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, define how the money will be used, and show how you intend to to pay the money back to the bank.

A well-defined business plan is is critically important. If the financing is to for a going concern, 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 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 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 devoted to providing advice to small business owners, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we recommend you read Borrowing Money from Friends and Family.