GRCA Commerce Quarterly Spring 2019 - 20

small business matters

ARE YOU LOAN-READY?
By Jobany Bedoya, Greater
Reading Chamber Alliance

A

s a small business owner or entrepreneur, ask yourself why you may think it is
important to be "loan-ready." Do you know where to go or who you could see when
you may have questions regarding a loan or being prepared? Have you struggled
previously with the loan process? Or are you just simply unaware or misinformed? Well
fear not! Over the next few months I will be able to further explain the importance and
process for small businesses to become loan-ready. Through my previous banking and
current role with the GRCA, I'll share experiences and best practices that will help you
obtain the capital you need for your business. Be mindful and understanding that this will
be a high-level overview of the loan process and not identical to every situation out there.
Inform yourself about your local Community Development
Financial Institution (CDFI) such as the Greater Reading
Chamber Alliance (GRCA) and the benefits or resources
they have to offer. CDFIs are privatized financial institutions
that dedicate delivering responsible, yet affordable lending
to assist individuals with a lower income or wealth status
and the disadvantaged community's bridge to the economic
mainstream. Typically, these institutions receive necessary
funds from Federal, State, or even Local Government agencies.
Businesses such as Santander Bank, Fulton Bank, or Diamond
Credit Union are only a few of many commercial banks in
Berks County that can offer a wide array of commercial
products such as business checking accounts, merchant services,
personal/business loans, mortgages, and more. Some of these
establishments can also offer additional lending options which
may include U.S. SBA products.

20 COMMERCE QUARTERLY SPRING 2019



GRCA Commerce Quarterly Spring 2019

Table of Contents for the Digital Edition of GRCA Commerce Quarterly Spring 2019

GRCA Commerce Quarterly Spring 2019 - 1
GRCA Commerce Quarterly Spring 2019 - 2
GRCA Commerce Quarterly Spring 2019 - 3
GRCA Commerce Quarterly Spring 2019 - 4
GRCA Commerce Quarterly Spring 2019 - 5
GRCA Commerce Quarterly Spring 2019 - 6
GRCA Commerce Quarterly Spring 2019 - 7
GRCA Commerce Quarterly Spring 2019 - 8
GRCA Commerce Quarterly Spring 2019 - 9
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GRCA Commerce Quarterly Spring 2019 - 18
GRCA Commerce Quarterly Spring 2019 - 19
GRCA Commerce Quarterly Spring 2019 - 20
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GRCA Commerce Quarterly Spring 2019 - 56
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Fall2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Summer2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Spring2017
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