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

Small Business Lenders in Waverly, New York

 
Loan Census SBA Loan Info

I need a loan for my business in Waverly, New York! If that's what's on your mind, you've come to the right place.

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

Local Waverly Lenders

To assist you in finding a small business banker, here's our list of small business banks in Waverly.

Small Business Bank Recent SBA Loans
Tioga State Bank 2

Other Lending Resources for Waverly Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
1
Capital One
Mclean, VA
1
Citizens & Northern Bank
Coudersport, PA
1
Citizens & Northern Bank
Sayre, PA
2
Citizens Bank Of Pennsylvania
Philadelphia, PA
2
Manufacturers & Traders Trust
Buffalo, NY
2
New York Business Devel Corp
Albany, NY
1
Wachovia SBA Lending, Inc.
Roseville, CA
1

Business Loan Advice for Waverly Businesses

Before 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 intend to to pay the loan back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 to guarantee the loan with 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 these banks are SBA lenders. Before you sit down to talk with a small business 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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