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

Waterford, Pennsylvania Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Waterford, Pennsylvania who are interested in getting a bank loan.

SBA Lenders for Waterford Businesses

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

Small Business Bank Recent SBA Loans
Citizens Bank Of Pennsylvania
Philadelphia, PA
4
Merrill Lynch Bank Usa
Salt Lake City, UT
1
National City Bank
Erie, PA
1
National City Bank
Pittsburgh, PA
2
Pnc Bank, National Association
Philadelphia, PA
4
Pnc Bank, National Association
Pittsburgh, PA
1
Rbs Citizens
Providence, RI
9

Waterford Business Loan Advice

Prior to contacting banks for a loan, you will need to have a specific plan.

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

Being able to present a well-written 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. 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 to guarantee the loan 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 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Bank Credit Lines.

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