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March 29, 2024  
 
 
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Business Loan Somers Point, New Jersey

 
Loan Census SBA Loan Info

Raising money in Somers Point, New Jersey? If so, you'll want to talk to some of these small business lenders in Somers Point.

We wrote this article for entrepreneurs in Somers Point, New Jersey who are interested in getting a bank loan.

Local Somers Point Business Loan Sources

Without further adieu, here's our list of small business banks in Somers Point.

Small Business Bank Recent SBA Loans
1st Fidelity Bank  
Cape Savings Bank  

Banks that Lend to Somers Point Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Bank Of America
Providence, RI
1
Bnb Bank, National Association
Fort Lee, NJ
4
Business Lenders, LLC
Hartford, CT
1
Business Loan Center, LLC
Richmond, VA
1
Capital One
Mclean, VA
1
Commerce Bank
Philadelphia, PA
5
Pnc Bank, National Association
Pittsburgh, PA
1
Sun National Bank
Vineland, NJ
2
Susquehanna Bank Dv
Vineland, NJ
1

Tips for Getting a Business Loan in Somers Point

Prior to contacting banks to get 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, define how the money will be used, and show how you plan to pay the loan back to the bank.

A well-defined business plan is essential. If the capital 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, 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 the banks in our list 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

Our Gaebler.com site is passionate about supporting 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 504 Loans.

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