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

Port Royal, Pennsylvania Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Port Royal, 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 Port Royal, Pennsylvania who are interested in getting a bank loan.

Other Lending Resources for Port Royal Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
New York, NY
1
Pnc Bank, National Association
Pittsburgh, PA
1

Port Royal Business Loan Advice

Before reaching out to lenders to get 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money 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 you cannot repay the loan.

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 are SBA lenders. 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Angel Investors.

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