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March 29, 2024  
 
 
  Business Loan Information  
 

Thiells, New York Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Thiells, New York who are interested in getting debt financing.

Lenders for Thiells Businesses

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

Small Business Bank Recent SBA Loans
Citibank
New York City, NY
1

Thiells Business Loan Advice

Before meeting with lenders 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the financing is to for a company that is already doing 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, the bank may ask you to 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 are SBA lenders. Before meeting with the 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

Make the effort and learn as much as you can about Raising Money. For starters, we recommend you read Getting a Small Business Loan.

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