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

Small Business Lenders in Northport, New York

 
Loan Census SBA Loan Info

Small business loans in Northport, New York are available. You just need to talk to the right bank.

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

Local Northport Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank of Smithtown - Northport  
Chase Manhattan Bank - Area Branches- Fort Salonga  
Chase Manhattan Bank - Area Branches- Northport Village  
Chevy Chase Bank  
First National Bank of Long Island  
Fleet Bank  

SBA Lenders for Northport Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
5
Bank Of America
Providence, RI
5
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Hsbc Bank Usa
Buffalo, NY
1
Jpmorgan Chase Bank
Houston, TX
8
Unity Bank
Clinton, NJ
1

Business Loan Advice for Northport Businesses

Before reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

Having a business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 secure the business with 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. Prior to visiting local banks, 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

Make it a priority to learn as much as you can about Raising Money. For starters, we recommend you read Business Credit Evaluation.

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