If you are planning on applying for a small business loan and your business is based in Groveport, Ohio, we've assembled a list of local small business banks that you should contact.
Local Groveport Banks
To assist you in finding a small business banker, here's our list of small business banks in Groveport.
Small Business Bank |
Recent SBA Loans |
Fairfield National Bank |
|
Fifth Third Bank |
|
Business Loan Providers for Groveport Businesses
This is a list of banks outside of Groveport, Ohio that have provided SBA loans to Groveport businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Advantage Bank
Cambridge, OH |
1 |
Business Loan Center, LLC
Panama City Beach, FL |
1 |
Jpmorgan Chase Bank
Houston, TX |
2 |
Keybank National Association
Cleveland, OH |
1 |
National City Bank
Cleveland, OH |
4 |
The Huntington National Bank
Columbus, OH |
7 |
U.S. Bank National Association
Cincinnati, OH |
1 |
Wesbanco Bank, Inc.
Columbus, OH |
2 |
Groveport Bank Loan Tips
As a prerequisite to meeting with lenders to discuss getting a bank loan, you will need to develop the specifics of your loan request.
You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the lender.
Being able to present a well-written business plan is an important prerequisite. If the loan is to for a going concern, 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, the bank may ask you to to secure the business with your personal assets, such as your individual retirement account or pension plan. The banks will look at your personal credit report 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 these banks 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 serious about Raising
Money, you need to get up to speed on the subject. If you haven't read it
already, we recommend you review
Business Credit Evaluation.
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