Nanticoke, Pennsylvania Small Business Loans

Local Nanticoke Business Lenders

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

Banks that Lend to Nanticoke Businesses

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

Nanticoke Bank Loan Tips

Prior to reaching out to 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

A well-defined business plan is essential. 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 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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

Gaebler.com is a site that is all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is Business Incubators.