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March 29, 2024  
 
 
  Business Loan Information  
 

Austintown, Ohio Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Austintown, Ohio! If that's what's on your mind, you've come to the right place.

This article is written specifically for small business proprietors in Austintown, Ohio who are interested in getting a bank loan.

Business Loan Providers for Austintown Businesses

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

Small Business Bank Recent SBA Loans
Home Savings & Loan Co - Youn
Youngstown, OH
5
Community So. Bank D.b.a Commun
Parsons, TN
1
Cortland Savings & Bank Co.
Cortland, OH
1
First National Bank - Pennsylvania
Hermitage, PA
1
First Place Bank
Warren, OH
2
Keybank National Association
Cleveland, OH
3
National City Bank
Cleveland, OH
10
National City Bank
Pittsburgh, PA
1
The Huntington National Bank
Columbus, OH
2
The Huntington National Bank
Salineville, OH
5
The Huntington National Bank
Toledo, OH
1
The Huntington National Bank
Warren, OH
4
The Huntington National Bank
Youngstown, OH
1

Austintown Business Loan Advice

As a prerequisite to contacting 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, define how the money will be used, and show how you plan to pay the loan back to the bank.

Having a business plan is is critically important. 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 your individual retirement account or pension plan. 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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