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

Fonda, New York Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Fonda, New York who are interested in getting debt financing.

Other Lending Resources for Fonda Businesses

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

Small Business Bank Recent SBA Loans
Hsbc Bank Usa
Buffalo, NY
1
Keybank National Association
Cleveland, OH
1
Nbt Bank, National Association
Norwich, NY
1
Rbs Citizens
Cleveland, OH
1
Rbs Citizens
Providence, RI
1

Fonda Business Loan Advice

Before reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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

Having a business plan is an important prerequisite. 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 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, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Prior to visiting local banks, you may want to get up to speed 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 Choosing VC Firms.

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