Loan Census Banking News and Information
December 9, 2019  
 
 
  Business Loan Information  
 

Clifton, Ohio Business Loan

 
Loan Census SBA Loan Info

Small business loans in Clifton, Ohio are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Clifton, Ohio who are interested in getting a small business loan.

Lenders for Clifton Businesses

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

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

Clifton Business Loan Advice

As a prerequisite to reaching out to lenders to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the money back to the lender.

A well-defined business plan is is critically important. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read 504 Loans.

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