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

Ridgway, Pennsylvania Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Ridgway, Pennsylvania, we've put together a list of local small business banks that you should contact.

Local Ridgway Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Ridgway.

Small Business Bank Recent SBA Loans
County National Bank - Ridgway Office  
Elk County Savings & Loan Association  
Farmers National Bank  

Banks that Lend to Ridgway Businesses

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

Small Business Bank Recent SBA Loans
First Commonwealth Bank
Hollidaysburg, PA
4
National City Bank
Indianapolis, IN
2
National City Bank
Pittsburgh, PA
1

Ridgway Bank Loan Tips

Prior to contacting banks 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the capital is to for an existing 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, the bank may ask you to to secure the business 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 these banks 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 educate yourself. If you haven't read it already, we recommend you review How Equity Dilution Works.

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