'Few barriers' to obtaining commercial business loans by ProQuest


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Business owners who once found success in gaining commercial loans from banks are now turning toward credit unions.

‘Few barriers’ to obtaining                                                                                                                                                               terms
commercial business loans                                                                                                                         $14,500,000
                                                                                                                                             COMMERCIAL MORTGAGE
                                                                                                                                                 provided to a
‘These aren’t normal times,’ so                                                                                                           Contract Packaging Company
companies look to credit unions                                  Top tips for getting a                                                  Serving the Pharmaceutical Industry

where they once turned to banks                                  commercial loan
                                                                       n  Does the credit union offer
                                                                                                                                                   $3,770,000                                $5,000,000
                                                                                                                                         COMMERCIAL MORTGAGE & LOC                            LINE OF CREDIT
             By Martin C. Daks                                   commercial financing? Call the insti-                                          provided to a                                   provided to a
When AuTOMOBILe dealer owner Frank                               tution or check its Web site.                                                Chemical Manufacturer                        General Contractor
Esposito looked to line up financing for an                            n  Can your company join the                                     Serving the Industrial Cleaning Industry    Serving the NJ Transportation Industry
acquisition, he didn’t even think of going to                    credit union? Many credit unions
a bank. Instead esposito, president of route                     require members to “live, work, wor-
46 Chrysler Jeep Dodge, in Little Falls, went                    ship” or otherwise be located in a
                                                                                                                                                   $2,000,000                                $8,770,476
                                                                                                                                                    LINE OF CREDIT                              EDA BOND
straight to his credit union.                                    county, town or other jurisdiction.                                                  provided to a                             provided to a
      “normally I’d go to a bank for financing,                        n  Be prepared with documenta-                                      Computer Rental Company                 Electrical Power System Manufacturer
but these aren’t normal times,” esposito said of                 tion. Established businesses should                                        Serving the Tradeshow Industry           Serving the Power & Utility Industry
his decision to tap north Jersey Federal Cred-                   have two or three years of corporate
it union, a Totowa-based financial institution.                  tax returns and the owners’ personal
“everyone I spoke with said they were getting                    returns, along with financial state-
turned down by their banker when they went                       ments for the most recent full year.                                   More Purchasing 
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