Small Business Lenders in Willow Grove, Pennsylvania

Local Willow Grove Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Willow Grove.

Banks that Lend to Willow Grove Businesses

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

Business Loan Advice for Willow Grove Businesses

Prior to meeting with lenders to get 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, describe what the money will finance, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Credit Evaluation.