Lawrenceville, Pennsylvania Small Business Loans

Local Lawrenceville Banks

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

Banks that Lend to Lawrenceville Businesses

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

Lawrenceville Bank Loan Tips

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

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money 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. 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 you cannot repay the loan.

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 these banks are SBA lenders. 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

Our Gaebler.com site is devoted to aiding small business owners, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, we recommend you read Attracting Investors.