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

Woodstown, New Jersey Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Woodstown, New Jersey! If that's what's on your mind, you've come to the right place.

If you are planning on applying for a small business loan and your business is based in Woodstown, New Jersey, we've assembled a list of local small business banks that you should contact.

Local Woodstown Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Woodstown.

Small Business Bank Recent SBA Loans
First Natinal Bank of Elmer  
Harvest Community Bank  

Other Lending Resources for Woodstown Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Rbs Citizens
Providence, RI
2
The Bank
Woodbury, NJ
2

Woodstown Bank Loan Tips

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

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the money back to the bank.

Having a 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. 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, the bank may ask you to to to guarantee the loan 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. Prior to visiting local banks, 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Borrowing Money from Friends and Family.

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