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December 24, 2024  
 
 
  Business Loan Information  
 

Business Loan Orwell, Ohio

 
Loan Census SBA Loan Info

Raising money in Orwell, Ohio? If so, you'll want to talk to some of these small business lenders in Orwell.

These materials were prepared for small business owners in Orwell, Ohio who are interested in getting debt financing.

SBA Lenders for Orwell Businesses

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

Small Business Bank Recent SBA Loans
California Bank & Trust
San Diego, CA
1
The Huntington National Bank
Toledo, OH
1

Tips for Getting a Business Loan in Orwell

Before reaching out to banks to get a bank loan, you will need to have a specific plan.

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 is critically important. 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 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 secure the business with your personal assets, such as the equity in your home. 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 get up to speed 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 to Raise Money.

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