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March 28, 2024  
 
 
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Business Loan Point Lookout, New York

 
Loan Census SBA Loan Info

Raising money in Point Lookout, New York? If so, you'll want to talk to some of these small business lenders in Point Lookout.

This article is written specifically for small business proprietors in Point Lookout, New York who are interested in getting a small business loan.

Business Loan Providers for Point Lookout Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
3
Citibank
New York City, NY
1
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Hsbc Bank Usa
Buffalo, NY
1

Tips for Getting a Business Loan in Point Lookout

As a prerequisite to contacting lenders 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, describe what the money will finance, and show how you intend to to pay the loan back to the lender.

Having a business plan is is critically important. If the money 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 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 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. Prior to visiting local banks, 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 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 Business Line of Credit.

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