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

Mount Pocono, Pennsylvania Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Mount Pocono, Pennsylvania who are interested in getting a small business loan.

Local Mount Pocono Banks

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

Small Business Bank Recent SBA Loans
Citizens Savings Bank  
ESSA Bank - Branches- Inside Mr Z'S Food Mart  

SBA Lenders for Mount Pocono Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
1
Business Loan Center, LLC
Richmond, VA
1
Commerce Bank
Philadelphia, PA
2
Manufacturers & Traders Trust
Amherst, NY
1
Rbs Citizens
Norwood, MA
1
Rbs Citizens
Providence, RI
1
Temecula Valley Bank
Temecula, CA
1
Valley National Bank
North Plainfield, NJ
1
Wachovia SBA Lending, Inc.
Roseville, CA
1

Mount Pocono Business Loan Advice

Before contacting lenders to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 pledge your personal assets, such as your individual retirement account or pension plan. 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to get up to speed 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

Our Gaebler.com site is deeply committed to aiding small business owners, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we would suggest you read Attracting Investors.

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