Raritan, New Jersey Small Business Loans

Local Raritan Lending Resources

To help you learn more about local small business lenders, here's our list of small business banks in Raritan.

Business Loan Providers for Raritan Businesses

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

Raritan Bank Loan Tips

Prior 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 explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

Having a business plan is essential. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 the banks in our list 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

Gaebler.com is a site that is passionate about aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Find Start-Up Capital.