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March 29, 2024  
 
 
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Wellsboro, Pennsylvania Business Loan

 
Loan Census SBA Loan Info

Looking for a Wellsboro, Pennsylvania small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for entrepreneurs in Wellsboro, Pennsylvania who are interested in getting debt financing.

Local Wellsboro Lending Resources

Without further adieu, here's our list of small business banks in Wellsboro.

Small Business Bank Recent SBA Loans
Citizens & Northern Bank 9
First Citizens National Bank 4

Other Lending Resources for Wellsboro Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
Omega Bank
Lewisburg, PA
1
Pnc Bank, National Association
Pittsburgh, PA
1
Univest National Bank & Trust.
Souderton, PA
2

Wellsboro Business Loan Advice

As a prerequisite to meeting with banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. 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 to guarantee the loan with 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 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

Our Gaebler.com site is devoted to supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. To learn more, we recommend you read Realistic Debt Financing Options.

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