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

Small Business Lenders in Terrace Park, Ohio

 
Loan Census SBA Loan Info

Looking for a Terrace Park, Ohio small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Terrace Park, Ohio, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Terrace Park Businesses

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

Small Business Bank Recent SBA Loans
Centerbank
Milford, OH
1
U.S. Bank National Association
Cincinnati, OH
2

Business Loan Advice for Terrace Park Businesses

Before meeting with banks for a loan, you will need to develop the specifics of your loan request.

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 an existing business, 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 pledge your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. Before you sit down to talk with a small business 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

Make the effort and learn as much as you can about Raising Money. To get started, we suggest you read Borrowing Money from Friends and Family.

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