North Bellmore, New York Business Loan

Local North Bellmore Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in North Bellmore.

Banks that Lend to North Bellmore Businesses

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

North Bellmore Business Loan Advice

Before contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 intend to to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the money is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 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

Gaebler.com is a site that is dedicated to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is 504 Loans.