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

Small Business Lenders in Palmyra, New York

 
Loan Census SBA Loan Info

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

Lenders for Palmyra Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
2
Community Bank
Clifton Springs, NY
1
Five Star Bank
Olean, NY
1
Hsbc Bank Usa
Buffalo, NY
2
Hsbc Bank Usa
Syracuse, NY
1
Jpmorgan Chase Bank
Houston, TX
1
Manufacturers & Traders Trust
Buffalo, NY
3
Rbs Citizens
Providence, RI
2

Business Loan Advice for Palmyra Businesses

Prior to contacting banks for a 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 intend to to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the bank loan 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 secure 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, you will likely be asked to pledge your personal assets, such as the equity in your home. 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 these banks 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

If you are new to our Gaebler.com site, you should know that we are all about helping entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Business Cash Advances.

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