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

Richmond, Ohio Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Richmond, Ohio, we've assembled a list of local small business banks that you should contact.

Local Richmond Banks

Without further adieu, here's our list of small business banks in Richmond.

Small Business Bank Recent SBA Loans
Citizens Federal Bank FSB  

SBA Lenders for Richmond Businesses

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

Small Business Bank Recent SBA Loans
Progressive Bank
Wheeling, WV
1
The Huntington National Bank
Toledo, OH
1

Richmond Bank Loan Tips

Prior to reaching out to banks to discuss getting a bank 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 capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 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 are SBA lenders. 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

Make it a priority to learn as much as you can about Raising Money. To get started, we suggest you read Business Incubators.

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