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

Small Business Lenders in Morris Plains, New Jersey

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Morris Plains, New Jersey, we've put together a list of local small business banks that you should contact.

Local Morris Plains Business Loan Sources

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

Small Business Bank Recent SBA Loans
Commerce Bank  
Provident Bank  

Lenders for Morris Plains Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
3
Bank Of America
Hackensack, NJ
1
Bank Of America
Providence, RI
7
Bnb Bank, National Association
Fort Lee, NJ
1
Business Lenders, LLC
Hartford, CT
1
Capital One
Mclean, VA
1
Capital One
Melville, NY
1
Cit Small Business Lending Corp
Livingston, NJ
1
Commerce Bank
Philadelphia, PA
2
Hsbc Bank Usa
Buffalo, NY
1
Jpmorgan Chase Bank
Houston, TX
2
Peapack-gladstone Bank
Gladstone, NJ
1
Pnc Bank, National Association
Pittsburgh, PA
3
Sun National Bank
Vineland, NJ
3
The Bank
Woodbury, NJ
1
Unity Bank
Clinton, NJ
2
Ups Capital Business Credit
Windsor, CT
1
Valley National Bank
North Plainfield, NJ
2
Wachovia SBA Lending, Inc.
Roseville, CA
1

Business Loan Advice for Morris Plains Businesses

Prior to meeting with banks to discuss getting a bank 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the money 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 to guarantee the loan 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 are SBA lenders. 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 serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review How Much Venture Capital Is There?.

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