Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Union, New Jersey

 
Loan Census SBA Loan Info

Looking for a Union, New Jersey 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.

These materials were prepared for small business proprietors in Union, New Jersey who are interested in getting a small business loan.

Local Union Lenders

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

Small Business Bank Recent SBA Loans
First Community Bank  
Independence Community Bank  
Ironbound Bank - - Division of New York Community Bank  
New York Community Bank-Inbound Division  
Norcrown Bank  
Penn Federal Savings Bank  
Sovereign Bank - Offices- Five Points  
Spencer Savings Bank  

Banks that Lend to Union Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
11
Bank Of America
Providence, RI
3
Branch Bank & Trust
Atlanta, GA
1
Business Loan Center, LLC
New York, NY
1
Capital One Bank (usa)
Glen Allen, VA
1
Commerce Bank
Philadelphia, PA
3
Commerce Bank/north
Ramsey, NJ
1
Jpmorgan Chase Bank
Houston, TX
5
Jpmorgan Chase Bank
New York City, NY
1
Millennium Bcpbank
Newark, NJ
2
New York Community Bank
North Brunswick, NJ
1
Pnc Bank, National Association
Pittsburgh, PA
1
Sovereign Bank
Jersey City, NJ
1
Sovereign Bank
Villanova, PA
2
Unity Bank
Clinton, NJ
3

Tips for Getting a Business Loan in Union

As a prerequisite to contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 how you plan to pay the money back to the bank.

Having a business plan is essential. If the capital 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 secure 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 get up to speed 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 planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Getting a Small Business Loan.

Business Loan Sources for Other Cities in New Jersey
Get a Business Loan in Trenton
Get a Business Loan in Union City

Browse All Business Loan Sources for New Jersey