Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

East Norwich, New York Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in East Norwich, New York who are interested in getting debt financing.

Business Loan Providers for East Norwich Businesses

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

Small Business Bank Recent SBA Loans
Astoria Fed. S & L Association
Lake Success, NY
1
Bank Of America
Providence, RI
1
Citibank
New York City, NY
2
Hsbc Bank Usa
Buffalo, NY
1
Hsbc Bank Usa
Syracuse, NY
1

East Norwich Business Loan Advice

Before contacting banks for a 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 how you plan to pay the loan back to the bank.

A well-defined business plan is essential. If the bank 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, the bank may ask you to to secure the business with 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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

If you are new to our Gaebler.com site, you should know that we are deeply committed to assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read How to Raise Money.

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