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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Reedsville, Pennsylvania

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Reedsville, Pennsylvania who are interested in getting a small business loan.

Business Loan Providers for Reedsville Businesses

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

Small Business Bank Recent SBA Loans
Kishacoquillas Valley National
Belleville, PA
3
Rbs Citizens
Providence, RI
1

Tips for Getting a Business Loan in Reedsville

Prior to contacting lenders to discuss getting 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to guarantee 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 pledge 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. Before meeting with the banker, 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 serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Angel Investors.

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