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

Small Business Lenders in Port Jefferson, New York

 
Loan Census SBA Loan Info

Getting a business loan in Port Jefferson, New York seems challenging at first, but we're here to help you get started.

If you are looking for a small business loan and your business is based in Port Jefferson, New York, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Port Jefferson Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
4
Bank Of America
Providence, RI
19
Citibank
New York City, NY
1
Commerce Bank
Philadelphia, PA
1
Community Building Fund, LLC
Centereach, NY
1
Community National Bank
Great Neck, NY
3
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Hsbc Bank Usa
Buffalo, NY
2
Hsbc Bank Usa
Syracuse, NY
8
Jpmorgan Chase Bank
Houston, TX
2
Newtek Small Business Finance Inc.
New York, NY
1
Valley National Bank
North Plainfield, NJ
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Washington Mutual Bank
Henderson, NV
4

Business Loan Advice for Port Jefferson Businesses

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, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 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

If you are new to our Gaebler.com site, you should know that we are devoted 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 504 Loans.

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