Coalport, Pennsylvania Small Business Loans

Local Coalport Business Loan Sources

Without further adieu, here's our list of small business banks in Coalport.

SBA Lenders for Coalport Businesses

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

Coalport Bank Loan Tips

As a prerequisite to contacting lenders 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.

A well-defined business plan is is critically important. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to guarantee 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 pledge 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 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.

Gaebler.com Advice on Raising Money

If you are new to our Gaebler.com site, you should know that we are dedicated to assisting entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Bank Credit Lines.