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

Adams, New York Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Adams, New York! If that's what's on your mind, you've come to the right place.

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

Business Loan Providers for Adams Businesses

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

Small Business Bank Recent SBA Loans
Cit Small Business Lending Corp
Livingston, NJ
1
Hsbc Bank Usa
Buffalo, NY
6
Keybank National Association
Cleveland, OH
1
Watertown Savings Bank
Watertown, NY
5

Adams Bank Loan Tips

Prior to contacting lenders 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

A well-defined business plan is is critically important. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 participate in the financial assistance programs available through the SBA. 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read 504 Loans.

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