USDA Business Loans in Scranton, PA
Find lenders offering usda business loans in the Scranton, including Wilkes-Barre, Hazleton, and surrounding areas. Compare rates, terms, and programs from 2 lenders.
USDA Lenders Serving Scranton
2 lenders offering usda business loans in the Scranton, PA area.
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
Celtic Bank Corporation
SBASALT LAKE CITY, UT
Industrial bank and top SBA preferred lender headquartered in Salt Lake City. Specializes in SBA 7(a) lending for business acquisitions, partner buyouts, commercial real estate, and working capital. Also offers USDA business loans.
Scranton Commercial Real Estate Market
Scranton's commercial real estate market has shifted from its legacy coal-mining economy to one driven by warehouse and distribution operations, healthcare, and higher education. The I-81 corridor through Lackawanna and Luzerne counties has attracted major logistics operations, including facilities for Chewy, Amazon, and TJX Companies, as distribution tenants seek lower land costs relative to the Lehigh Valley and northern New Jersey. Downtown Scranton has seen modest revitalization through historic tax credit projects converting former commercial buildings into mixed-use properties, with the University of Scranton serving as a key urban anchor. The Wilkes-Barre adjacent market adds scale, with the Mohegan Sun Pocono casino-resort and Wyoming Valley Mall submarket generating hospitality and retail demand.
Key Economic Drivers
- ●I-81 industrial corridor attracting e-commerce and third-party logistics distribution centers
- ●Geisinger Health System and Commonwealth Health regional hospital networks
- ●University of Scranton, Marywood University, and Wilkes University providing institutional demand
- ●Mohegan Sun Pocono and Poconos tourism driving hospitality property investment
Market Insight
The Scranton-Wilkes-Barre market offers warehouse rents and land costs that are 30-50% below the Lehigh Valley, making it an increasingly attractive option for logistics operators willing to locate slightly farther from the New York metro area.
USDA Business Loans in Scranton, Pennsylvania
USDA Business & Industry (B&I) loans provide government-guaranteed financing for rural businesses. Similar to SBA loans but for rural areas, they offer competitive terms for business acquisition, real estate, equipment, and working capital in communities with populations under 50,000. In the Scranton metro area, borrowers can access 2 lenders offering USDA financing, including Wilkes-Barre, Hazleton, and surrounding areas. Loan amounts typically range from $50K to $25M with rates from Variable or fixed, competitive.
Who Should Consider USDA Business Loans?
- Rural businesses
- Agricultural operations
- Rural real estate
- Businesses in towns under 50,000 population
Key Requirements
- Business in area with population <50,000
- For-profit or nonprofit
- Unable to get credit elsewhere
- Sufficient cash flow
Advantages
- ✓Up to 80% government guarantee
- ✓Long terms available
- ✓Competitive rates
- ✓Flexible use of funds
Considerations
- •Must be in eligible rural area
- •Lengthy approval process
- •Extensive documentation
- •Limited lender availability
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