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

Business Loan Highland Park, New Jersey

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Highland Park, New Jersey who are interested in getting a bank loan.

Local Highland Park Banks

To assist you in finding a small business banker, here's our list of small business banks in Highland Park.

Small Business Bank Recent SBA Loans
First Savings Bank - Highland Park Office  

SBA Lenders for Highland Park Businesses

This is a list of banks outside of Highland Park, New Jersey that have provided SBA loans to Highland Park 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
4
Bnb Bank, National Association
Fort Lee, NJ
1
Capital One
Mclean, VA
2
Columbia Bank
Paramus, NJ
1
Commerce Bank
Flemington, NJ
1
Hsbc Bank Usa
Syracuse, NY
1
Pnc Bank, National Association
Pittsburgh, PA
1
Rbs Citizens
Providence, RI
1
Superior Financial Group, LLC
Walnut Creek, CA
1
Unity Bank
Clinton, NJ
2
Valley National Bank
North Plainfield, NJ
2

Tips for Getting a Business Loan in Highland Park

Before meeting with banks to discuss getting a bank 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the financing is to for an existing 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 secure the business 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 are SBA lenders. Before you sit down to talk with a small business banker, you may want to do your homework 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read Business Incubators.

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