Edinboro, Pennsylvania Business Loan

Local Edinboro Lenders

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

Lenders for Edinboro Businesses

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

Edinboro Business Loan Advice

As a prerequisite to meeting with banks to get a bank loan, you will need to develop the specifics of your loan request.

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 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 loan is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 secure the business with your personal assets, such as your individual retirement account or pension plan. 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. Prior to visiting local banks, 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

Gaebler.com is a site that is deeply committed to helping entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Attracting Investors.