If you are looking for a small business loan and your business is based in Holgate, Ohio, we've assembled a list of local small business banks that you should contact.
Other Lending Resources for Holgate Businesses
This is a list of banks outside of Holgate, Ohio that have provided SBA loans to Holgate businesses. Some of these may be national banks with local branch locations.
Holgate Bank Loan Tips
Before meeting with banks to get 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 bank.
Being able to present a well-written business plan is essential. If the money 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 guarantee the loan. Collateral is relevant because banks always
want to be prepared for a worst-case scenario in which you cannot repay the loan.
If the business has few assets, you will likely be asked 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 the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to do your homework 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
Gaebler.com is a site that is dedicated to helping small business owners, and we have a
lot of information pertaining to to Raising
Money. For example, we would suggest you read 504 Loans.
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