Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Milford Center, Ohio Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Milford Center, Ohio! If that's what's on your mind, you've come to the right place.

We wrote this article for small business owners in Milford Center, Ohio who are interested in getting debt financing.

SBA Lenders for Milford Center Businesses

This is a list of banks outside of Milford Center, Ohio that have provided SBA loans to Milford Center businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Jpmorgan Chase Bank
Houston, TX
1
National City Bank
Cleveland, OH
1
National City Bank
Indianapolis, IN
1
The Huntington National Bank
Columbus, OH
1

Milford Center Business Loan Advice

Prior to meeting with banks for a 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, 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 financing is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to secure the business 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 these banks are SBA lenders. 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 educate yourself. If you haven't read it already, we recommend you review How Equity Dilution Works.

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