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

Ottawa, Ohio Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Ottawa, Ohio are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Ottawa, Ohio, we've assembled a list of local small business banks that you should contact.

Local Ottawa Banks

To help you learn more about local small business lenders, here's our list of small business banks in Ottawa.

Small Business Bank Recent SBA Loans
First Fed. Bank - Midwest 1
First Federal Bank  

SBA Lenders for Ottawa Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
2
The Huntington National Bank
Salineville, OH
2
The Huntington National Bank
Toledo, OH
1

Ottawa Bank Loan Tips

As a prerequisite to reaching out to banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Having a business plan is is critically important. If the loan 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan 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 you sit down to talk with a small business 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 get up to speed on the subject. If you haven't read it already, we recommend you review Attracting Investors.

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