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

Business Loan Shreve, Ohio

 
Loan Census SBA Loan Info

Getting a business loan in Shreve, Ohio seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Shreve, Ohio who are interested in getting debt financing.

Other Lending Resources for Shreve Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Comm. & Savings Bank - Millersb
Millersburg, OH
1
Firstmerit Bank
Akron, OH
1
Firstmerit Commun Devel Corp
Akron, OH
1
National City Bank
Orrville, OH
1

Tips for Getting a Business Loan in Shreve

Before meeting with 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.

A well-defined business plan is an important prerequisite. If the financing 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 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 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 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

Invest the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Angel Investors.

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