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General Loan Program Evaluation Criteria

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One S. Church Street, Suite 200, Hazleton, PA 18201      
570.455.1508   570.454.7787    

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General Loan Program Evaluation Criteria

CREDIT HISTORY

  • The business and its principals must have satisfactory history of meeting debt obligations in a timely manner.
  • Credit checks will be performed.
  • Prior bankruptcy does not immediately deny requests.

CASH FLOW

  • The business must show adequate cash flow, historical and/or projected, to service the entire debt.

COLLATERAL

  • Collateral and personal guarantees are required for the particular loan request.

MANAGEMENT

  • The business must demonstrate that it has experienced and adequate management to operate the company successfully.

BUSINESS PLAN

  • For start-up and new-to-market business; a Business Plan is required, including financial projections supported by assumptions.

INSURANCE

  • Hazard insurance must equal the value of the assets pledged.
  • Life insurance assignments are generally required on owners or key management personnel.

FEES

  • The borrower must pay all legal fees and any other closing costs.

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Demographics

  • Population
  • Households
  • Income and Benefits
  • Business Taxes
Population by Age and Sex
  Hazleton Area School District Luzerne County

Hazleton /
Wilkes-Barre /
Scranton MSA
 Total Population   71,716 317,417 553,885
Male 34,373 47.9% 156,743 49.4% 271,811 48.9%
Female 37,343 52.4% 160,674 50.6% 282,074 51.1%
Up to 19 years 18,055 24.2% 70,453 22.4% 124,678 22.9%
20 to 44 years 20,807 29.6% 97,659 30.1% 167,978 29.7%
45 to 64 years 19,533 25.9% 86,441 27.6% 149,767 27.5%
65 years and over 13,321 20.3% 62,864 19.9% 111,462 19.9%
Median age (years) 41.4 42.5 42.4
Source: U.S. Census Bureau, 2019 American Community Survey
Households
  Hazleton Area School District Luzerne County

Hazleton /
Wilkes-Barre /
Scranton MSA
Households by type Estimate Percent Estimate Percent Estimate Percent
Total households 28,762 130,890 230,210
Average household size 2.44 (x) 2.33 (x) 2.32 (x)
Average family size 3.13 (x) 2.93 (x) 2.89 (x)
Source: U.S. Census Bureau, 2019 American Community Survey
Income and Benefits
  Hazleton Area School District Luzerne County

Hazleton /
Wilkes-Barre /
Scranton MSA
Per capita income $25,640 $28,484 $28,480
Median household income $44,505 $53,972 $54,304
Mean household income $61,482 $68,764 $70,836
Median family income $59,127 $68,693 $67,558
Mean family income $72,500 $81,539 $81,034
Source: U.S. Census Bureau, 2019 American Community Survey
Pennsylvania Business Taxes
 Corporate Net Income Tax- 9.99% Sales and Use Tax- 6.00% Personal Income Tax- 3.07%
Download the Pennsylvania Business Taxes chart

Transportation

Easy access to many transportation systems makes Greater Hazleton an attractive area, not only for residents but for businesses, too.

  • Location

    Location

    The City of Hazleton and its surrounding communities are collectively known as Greater Hazleton.

    Greater Hazleton encompasses an area located within three counties: southern Luzerne County, northern Schuylkill County and western Carbon County. Greater Hazleton is strategically located near Interstates 80, 81, 84, 380 and 476, and puts your company within a 300-mile radius of 25 percent of the population and total production of the entire nation.

    Our community is only two and a half hours away from New York City, less than that from Philadelphia and slightly more from Baltimore and Washington, D.C.

    Driving distances

    map rings

    • Wilkes–Barre, PA – 28 miles
    • Mount Pocono, PA – 43 miles
    • Scranton, PA – 46 miles
    • Allentown, PA – 47 miles
    • Harrisburg, PA – 80 miles
    • Philadelphia, PA – 97 miles
    • New York City, NY – 127 miles
    • Baltimore, MD – 160 miles
    • Washington, DC – 201 miles
    • Pittsburgh, PA – 249 miles
    • Boston, MA – 331 miles

    Download the Greater Hazleton Area map.

  • Highways

    Highways

    Highways

    Direct access to Interstates 81 and 80, which interconnect with nearby I-476 (the Northeast Extension of the Pennsylvania Turnpike), I-84 and I-380 and puts your company within a 300-mile radius of 25 percent of the population and total production of the entire nation.

    The City of Hazleton operates an intermodal transportation center in downtown Hazleton. This center is the hub of intra-city and regional bus service.

  • Airports

    Airports Greater Hazleton is close to two international airports while one municipal airport is located on the north side of the city:

  • Rail

    Rail

    Seven miles of rail line, owned and maintained by Reading Blue Mountain and Northern Railroad (RBMN), run throughout Humboldt Industrial Park. Reading and Northern runs a scheduled railroad six days a week with each customer provided a specific service window for rail deliveries.

    Reading and Northern is locally owned and is the largest privately owned railroad in Pennsylvania. RBMN is recognized for its industrial development success and is the only three time winner of the Regional Railroad of the Year award by Railway Age Magazine.

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