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

Red Hook, New York Business Loan

 
Loan Census SBA Loan Info

Raising money in Red Hook, New York? If so, you'll want to talk to some of these small business lenders in Red Hook.

We wrote this article for small business proprietors in Red Hook, New York who are interested in getting a bank loan.

Business Loan Providers for Red Hook Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
3
Business Lenders, LLC
Hartford, CT
1
Business Loan Center, LLC
Panama City Beach, FL
1
Hsbc Bank Usa
Buffalo, NY
1
Innovative Bank
Oakland, CA
2
Keybank National Association
Cleveland, OH
4
Manufacturers & Traders Trust
Buffalo, NY
6
New York Business Devel Corp
New York, NY
1
Rbs Citizens
Providence, RI
5
Rhinebeck Savings Bank
Rhinebeck, NY
3
Valley National Bank
North Plainfield, NJ
1

Red Hook Business Loan Advice

Prior to contacting lenders to get 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 how you plan to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the bank loan 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, 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review SBIR Funding.

Business Loan Sources for Other Cities in New York
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