Struthers, Ohio Business Loan

Local Struthers Banks

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

Banks that Lend to Struthers Businesses

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

Struthers Business Loan Advice

As a prerequisite to reaching out to 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

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

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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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

Gaebler.com is a site that is all about assisting small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Microlending as a Small Business Funding Source.