Business financing in Delaware County.

Small business financing is money you borrow or receive to start, run, or grow a business. It can come in many forms — a term loan with fixed monthly payments, a line of credit you draw from as needed, a microloan for smaller amounts, or a grant you never have to repay. Some financing is secured (meaning the lender holds collateral, like equipment or real estate) and some is unsecured (based mostly on your credit and cash flow).

For solo contractors — plumbers, electricians, landscapers, cleaners, and others — financing might mean buying a work van, purchasing tools, covering a slow season, or hiring a first employee.

For small real estate investors, it might mean a fix-and-flip loan or a small rental property mortgage.

Understanding what type of financing fits your need is the first and most important step.

Delaware County — often called 'Delco' — sits just southwest of Philadelphia and includes cities and townships like Chester, Upper Darby, Haverford, Media, Folcroft, Sharon Hill, and Darby. The county has a large and growing population of immigrant entrepreneurs, many of whom run construction trades businesses, food service operations, cleaning services, and retail shops.

Qualification varies by lender and program, but here is a general picture:

• **Credit score:** Traditional banks often want 680 or higher. Community lenders and CDFIs may work with scores as low as 580 — or evaluate your application holistically.

• **Time in business:** Many programs require 6–24 months of operating history, but startup loans do exist.

• **Revenue:** Some programs have minimum annual revenue thresholds (often $50,000–$100,000), while microloans may have no minimum.

• **Immigration status:** Several local lenders accept an ITIN (Individual Taxpayer Identification Number) instead of a Social Security Number. You do not need to be a U.S. citizen to qualify for many small business loans in this county.

• **Industry:** Most industries qualify, including construction trades, food businesses, childcare, and real estate services. Some lenders exclude certain high-risk industries.

Delaware County's economy includes significant manufacturing history (especially in Chester), a growing healthcare sector, and a strong base of small service businesses. Local lenders understand these industries and often have programs tailored to them.

Gathering your paperwork before you apply saves time and makes you look prepared to lenders. Every lender is different, but here is what most will ask for:

**For all applicants:**

• Government-issued photo ID (passport, driver's license, or consular ID)

• ITIN or Social Security Number

• Last 2 years of personal tax returns (or transcripts)

• Last 2 years of business tax returns (if your business has been open that long)

• Last 3–6 months of business bank statements

• Proof of business registration (LLC, sole proprietorship, or corporation documents from Pennsylvania)

• Business license, if your trade requires one

**For newer businesses or startups:**

• A simple business plan (one to three pages is fine for most CDFI and microloan applications)

• Projected income and expense statement for the next 12 months

• Description of how you will use the loan funds

**For real estate investors:**

• Property address and purchase contract

• Appraisal or estimated value

• Proof of any existing rental income

**Tip:** Many CDFIs and community lenders in Delaware County will help you prepare these documents — you do not have to figure it all out alone before reaching out.