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

Business Loan Grand Island, New York

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Grand Island, New York who are interested in getting debt financing.

Business Loan Providers for Grand Island Businesses

This is a list of banks outside of Grand Island, New York that have provided SBA loans to Grand Island 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
First Niagara Bank
Buffalo, NY
1
First Niagara Bank
Lockport, NY
1
Five Star Bank
Olean, NY
1
Five Star Bank
Warsaw, NY
2
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Hsbc Bank Usa
Buffalo, NY
13
Hsbc Bank Usa
Syracuse, NY
5
Keybank National Association
Cleveland, OH
1
Manufacturers & Traders Trust
Amherst, NY
5
Manufacturers & Traders Trust
Buffalo, NY
6
Rbs Citizens
Providence, RI
2

Tips for Getting a Business Loan in Grand Island

Before contacting lenders to discuss getting 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 your ability to pay the loan back to the lender.

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

Gaebler.com is a site that is devoted to helping entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is How to Raise Money.

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