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March 29, 2024  
 
 
  Business Loan Information  
 

Shelocta, Pennsylvania Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Shelocta, Pennsylvania seems challenging at first, but we're here to help you get started.

This article is written specifically for entrepreneurs in Shelocta, Pennsylvania who are interested in getting a small business loan.

Business Loan Providers for Shelocta Businesses

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

Small Business Bank Recent SBA Loans
Pnc Bank, National Association
Philadelphia, PA
1

Shelocta Business Loan Advice

Prior to meeting with lenders for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

A well-defined business plan is essential. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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 are SBA lenders. 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Attracting Investors.

Business Loan Sources for Other Cities in Pennsylvania
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