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March 29, 2024  
 
 
  Business Loan Information  
 

Cold Brook, New York Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Cold Brook, New York, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Cold Brook Businesses

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

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

Cold Brook Bank Loan Tips

Prior to contacting lenders to discuss getting a bank loan, you will need to have a specific plan.

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

Having a business plan is essential. If the bank loan is to for a company that is already doing 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 to guarantee the loan with 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 the banks in our list 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 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

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read 504 Loans.

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