Pen Argyl, Pennsylvania Business Loan

Local Pen Argyl Business Lenders

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

SBA Lenders for Pen Argyl Businesses

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

Pen Argyl Business Loan Advice

Prior to meeting with banks to discuss getting 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 bank.

Having a business plan is essential. 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 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, the bank may ask you to to secure the business with your personal assets, such as the equity in your home. 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 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.

Gaebler.com Advice on Raising Money

If you are new to our Gaebler.com site, you should know that we are dedicated to assisting 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 recommend you read Getting a Small Business Loan.