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

Small Business Lenders in State College, Pennsylvania

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in State College, Pennsylvania, we've assembled a list of local small business banks that you should contact.

Local State College Business Loan Sources

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

Small Business Bank Recent SBA Loans
Citizens Bank  
Nittany Bank 1
Nittany Bank, A Division Of 45
Omega Bank 1

Lenders for State College Businesses

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

Small Business Bank Recent SBA Loans
Asian Bank
Philadelphia, PA
1
Branch Bank & Trust
Winston Salem, NC
1
Business Lenders, LLC
Hartford, CT
1
Capital One
Mclean, VA
3
Citizens Bank Of Pennsylvania
Philadelphia, PA
4
First Commonwealth Bank
Hollidaysburg, PA
19
Kishacoquillas Valley National
Belleville, PA
5
Manufacturers & Traders Trust
Amherst, NY
20
Manufacturers & Traders Trust
Baltimore, MD
1
Manufacturers & Traders Trust
Buffalo, NY
5
Manufacturers & Traders Trust
Towson, MD
3
National Penn Bank
Boyertown, PA
4
Pnc Bank, National Association
Philadelphia, PA
5
Pnc Bank, National Association
Pittsburgh, PA
16
Rbs Citizens
Norwood, MA
1
Rbs Citizens
Providence, RI
33
Sovereign Bank
Newtown, PA
1
Sovereign Bank
Villanova, PA
2
Sovereign Bank
Wyomissing, PA
7
Susquehanna Bank Dv
Wyomissing, PA
1
Susquehanna Bank Pa
Lititz, PA
1
The Legacy Bank, A Division Of
Williamsport, PA
1
Unity Bank
Clinton, NJ
1
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for State College Businesses

Before meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the loan 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, you will likely be asked 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 these banks are SBA lenders. 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

Gaebler.com is a site that is devoted to assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

More Business Loan Info for Pennsylvania
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