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

Wallkill, New York Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Wallkill, New York seems challenging at first, but we're here to help you get started.

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

Other Lending Resources for Wallkill Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
1
Capital One
Mclean, VA
1
Keybank National Association
Cleveland, OH
1
Manufacturers & Traders Trust
Amherst, NY
1
Manufacturers & Traders Trust
Buffalo, NY
3
Progressive Cu
New York City, NY
1
Rbs Citizens
Cleveland, OH
1
Td Banknorth
Portland, ME
1

Wallkill Bank Loan Tips

Prior to meeting with banks to get 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the 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 guarantee 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 to guarantee the loan 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 participate in the financial assistance programs available through the SBA. Before meeting with the 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Find Start-Up Capital.

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