Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Ship Bottom, New Jersey Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Ship Bottom, New Jersey who are interested in getting debt financing.

Lenders for Ship Bottom Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
2
Capital One
Mclean, VA
1
Commerce Bank
Philadelphia, PA
3
Commerce Bank
Toms River, NJ
1
Unity Bank
Clinton, NJ
2
Woori America Bank
New York City, NY
1

Ship Bottom Business Loan Advice

Before meeting with banks to discuss getting a bank loan, you will need to have a specific plan.

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

Being able to present a well-written business plan is is critically important. If the capital is to for a going concern, 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 read up on 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. For starters, we recommend you read Microlending as a Small Business Funding Source.

Business Loan Sources for Other Cities in New Jersey
Get a Business Loan in Secaucus
Get a Business Loan in Somerdale

Browse All Business Loan Sources for New Jersey