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

Business Loan Newark, New York

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Newark, New York who are interested in getting a bank loan.

Local Newark Lending Resources

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

Small Business Bank Recent SBA Loans
Charter One Bank - Greece Northgate Plaza- Branch Locations- Newark  
Community Bank NA  

SBA Lenders for Newark Businesses

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

Small Business Bank Recent SBA Loans
Canandaigua National Bank & Trust
Canandaigua, NY
1
Canandaigua National Bank & Trust
Pittsford, NY
2
Community Bank
Canandaigua, NY
1
Five Star Bank
Geneva, NY
3
Five Star Bank
Olean, NY
1
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Hsbc Bank Usa
Buffalo, NY
3
Hsbc Bank Usa
Syracuse, NY
2
Manufacturers & Traders Trust
Amherst, NY
1
Manufacturers & Traders Trust
Buffalo, NY
2
Rbs Citizens
Cleveland, OH
2
Rbs Citizens
Providence, RI
10

Tips for Getting a Business Loan in Newark

Before reaching out to banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 money 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 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Prior to visiting local banks, 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 suggest you read 504 Loans.

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