Pennsylvania Business Loans

Although the manufacturing industry has slowed in recent years it is still a massive part of the state’s economy, with over 560,000 employees active in the industry. The manufacturing industry in Pennsylvania is diverse and it is not reliant on one single product; the state produces mass amounts of paper, machinery, plastics, metal, and pharmaceuticals. The manufacturing industry relies on small business loans in Pennsylvania to cover inventory and overhead expenses. Equipment financing in Pennsylvania is critical for business owners to purchase new equipment and machinery as more opportunities arise.

Agriculture has always been influential to Pennsylvania’s economy, and this still rings true today. With a rise in agricultural costs over the years, Pennsylvania has adjusted its farming industry by focusing more on fruits, corn and mushrooms. Livestock is crucial to the state’s economy and produces almost 70% of the state’s agricultural revenue. Businesses in this industry rely on small business loans in Pennsylvania to maximize their revenue on a yearly basis.

Pennsylvania has seen an increase in the demand for natural gas, which had seeped into other growing industries. The state is home some of the largest public and privately company’s in the country . Large companies are attracted to the state due to its talented workforce and both its rural and populated areas. With major cities and outdoor attractions outside the city limits, the tourism and hospitality industries also play an immense role in the state’s economy. The tourism and hospitality industries use small business loans and hotel loans to accommodate millions of visitors per year.