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

Small Business Lenders in Hammond, New York

 
Loan Census SBA Loan Info

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

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

Local Hammond Banks

To assist you in finding a small business banker, here's our list of small business banks in Hammond.

Small Business Bank Recent SBA Loans
Citizens National Bank  

Other Lending Resources for Hammond Businesses

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

Small Business Bank Recent SBA Loans
New York Business Devel Corp
Albany, NY
1
Watertown Savings Bank
Watertown, NY
3

Business Loan Advice for Hammond Businesses

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

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the capital 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Incubators.

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