Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Brookhaven, New York Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Brookhaven, New York? If so, you'll want to talk to some of these small business lenders in Brookhaven.

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

Other Lending Resources for Brookhaven Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
2

Brookhaven Bank Loan Tips

As a prerequisite to 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, define how the money will be used, and show your ability to pay the loan back to the bank.

Having a business plan is is critically important. If the loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, you will likely be asked to pledge your personal assets, such as the equity in your home. 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 are SBA lenders. 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

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