If you are hoping to get a small business loan and your business is based in Risingsun, Ohio, we've assembled a list of local small business banks that you should contact.
SBA Lenders for Risingsun Businesses
This is a list of banks outside of Risingsun, Ohio that have provided SBA loans to Risingsun businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Rbs Citizens
Providence, RI |
1 |
Business Loan Advice for Risingsun Businesses
Prior to contacting banks for a 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 intend to to pay the loan back to the bank.
A well-defined business plan is essential. If the bank loan is to for a going concern, 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 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 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 these banks participate in the financial assistance programs available through the SBA. 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
Our Gaebler.com site is passionate about assisting entrepreneurs, and we have a
lot of resources related to to Raising
Money. For example, we would suggest you read Getting a Small Business Loan.
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