Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Confluence, Pennsylvania Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Confluence, Pennsylvania? If so, you'll want to talk to some of these small business lenders in Confluence.

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

Local Confluence Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Confluence.

Small Business Bank Recent SBA Loans
First National Bank of Pennsylvania - Community Banking Offices- Conflu  

Other Lending Resources for Confluence Businesses

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

Small Business Bank Recent SBA Loans
Somerset Trust Company
Somerset, PA
2

Confluence Bank Loan Tips

Prior to meeting with lenders 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, describe what the money will finance, and show how you plan to pay the money back to the lender.

A well-defined business plan is is critically important. If the capital 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 cash flow from the business does not meet your projections.

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 the banks in our list participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Borrowing Money from Friends and Family.

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