If you are looking for a small business loan and your business is based in Camden, Ohio, we've put together a list of local small business banks that you should contact.
Local Camden Business Lenders
Without further adieu, here's our list of small business banks in Camden.
Small Business Bank |
Recent SBA Loans |
Camden Bank Branch of Somerville |
|
Other Lending Resources for Camden Businesses
This is a list of banks outside of Camden, Ohio that have provided SBA loans to Camden businesses. Some of these may be national banks with local branch locations.
Camden Bank Loan Tips
Before meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to secure the loan. Collateral is relevant because banks always
want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.
If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will check on your personal credit history in any case, so hopefully you have good credit history
-- you may want to get a copy of your credit history prior to meeting with the banker.
Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.
Gaebler.com Advice on Raising Money
If you are new to our Gaebler.com site, you should know that we are deeply committed to supporting entrepreneurs, and we have a
lot of useful articles about to Raising
Money. If you want to learn about raising money, we would suggest you read Business Credit Evaluation.
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