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

Islandia, New York Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Islandia, New York small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are planning on applying for a small business loan and your business is based in Islandia, New York, we've assembled a list of local small business banks that you should contact.

Local Islandia Lenders

Without further adieu, here's our list of small business banks in Islandia.

Small Business Bank Recent SBA Loans
CitiBank  
New York Commercial Bank 2

SBA Lenders for Islandia Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Bank Of America
Providence, RI
1
Innovative Bank
Oakland, CA
1
Jpmorgan Chase Bank
Houston, TX
5

Islandia Bank Loan Tips

Prior to meeting with lenders to get 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 plan to pay the money back to the lender.

Having a business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 the banks in our list participate in the financial assistance programs available through the SBA. 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

Gaebler.com is a site that is deeply committed to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.

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