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

Wanaque, New Jersey Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Wanaque, New Jersey small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are planning on applying for a small business loan and your business is based in Wanaque, New Jersey, we've assembled a list of local small business banks that you should contact.

Local Wanaque Banks

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

Small Business Bank Recent SBA Loans
Kearny Federal Savings Bank  
Lakeland Bank  

Other Lending Resources for Wanaque Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Bank Of America
Providence, RI
1
Lakeland Bank
Newfoundland, NJ
1
Rbs Citizens
Providence, RI
1

Wanaque Bank Loan Tips

Prior to contacting banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the bank loan is to for a going concern, 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 pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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. 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.

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