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April 25, 2024  
 
 
  Business Loan Information  
 

Business Loan Woodlyn, Pennsylvania

 
Loan Census SBA Loan Info

I need a loan for my business in Woodlyn, 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 Woodlyn, Pennsylvania who are interested in getting a small business loan.

SBA Lenders for Woodlyn Businesses

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

Small Business Bank Recent SBA Loans
Manufacturers & Traders Trust
Buffalo, NY
1
Rbs Citizens
Providence, RI
6

Tips for Getting a Business Loan in Woodlyn

As a prerequisite to contacting banks to discuss getting a bank 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Having a business plan is an important prerequisite. If the bank loan 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 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 participate in the financial assistance programs available through the SBA. 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 new to our Gaebler.com site, you should know that we are passionate about assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Business Incubators.

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