These materials were prepared for entrepreneurs in Mcconnelsville, Ohio who are interested in getting a bank loan.
SBA Lenders for Mcconnelsville Businesses
This is a list of banks outside of Mcconnelsville, Ohio that have provided SBA loans to Mcconnelsville businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Capital One
Mclean, VA |
1 |
Mcconnelsville Business Loan Advice
As a prerequisite to reaching out to banks for a 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.
A well-defined business plan is essential. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 you cannot repay the loan.
If the business has few assets, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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
Gaebler.com is a site that is passionate about aiding small business owners, and we have a
lot of resources related to to Raising
Money. For example, one article that might be of interest to you is Choosing VC Firms.
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