Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

St. Marys, Pennsylvania Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in St. Marys, Pennsylvania are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in St. Marys, Pennsylvania, we've put together a list of local small business banks that you should contact.

Other Lending Resources for St. Marys Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Providence, RI
1
First Commonwealth Bank
Hollidaysburg, PA
16
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Irwin Franchise Cap. Corp
Montvale, NJ
1
National City Bank
Cleveland, OH
2
National City Bank
Erie, PA
4
Pnc Bank, National Association
Pittsburgh, PA
1
S & T Bank
Pittsburgh, PA
1

St. Marys Bank Loan Tips

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 explain your business, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the loan back to the bank.

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. 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 you cannot repay the loan.

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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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

Make it a priority to learn as much as you can about Raising Money. For starters, we recommend you read Getting a Small Business Loan.

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