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March 28, 2024  
 
 
  Business Loan Information  
 

Delevan, New York Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Delevan, New York are available. You just need to talk to the right bank.

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

Other Lending Resources for Delevan Businesses

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

Small Business Bank Recent SBA Loans
Five Star Bank
Olean, NY
1
Five Star Bank
Warsaw, NY
1

Delevan Bank Loan Tips

Before meeting with lenders to get a bank 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the lender.

A well-defined business plan is essential. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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. 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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