Butler, Pennsylvania Small Business Loans

Local Butler Lending Resources

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

Lenders for Butler Businesses

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

Butler Bank Loan Tips

Before meeting with lenders to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 how you plan to pay the loan back to the lender.

A well-defined 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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.

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If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Line of Credit.