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

Small Business Lenders in Fort Ann, New York

 
Loan Census SBA Loan Info

Small business loans in Fort Ann, New York are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Fort Ann, New York, we've assembled a list of local small business banks that you should contact.

Other Lending Resources for Fort Ann Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
1
Glens Falls National Bank & Trust
Glens Falls, NY
1
New York Business Devel Corp
Albany, NY
1
Td Banknorth
Portland, ME
2

Business Loan Advice for Fort Ann Businesses

As a prerequisite 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

A well-defined business plan is essential. If the capital is to for an existing 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 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 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

Our Gaebler.com site is dedicated to providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Getting a Small Business Loan.

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