Loan Census Banking News and Information
July 16, 2020  
  Business Loan Information  

Dalton, Ohio Business Loan

Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Dalton, Ohio who are interested in getting a small business loan.

Local Dalton Banks

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

Small Business Bank Recent SBA Loans
First National Bank  

SBA Lenders for Dalton Businesses

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

Small Business Bank Recent SBA Loans
National City Bank
Cleveland, OH

Dalton Business Loan Advice

As a prerequisite to contacting banks to get 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 to guarantee the loan with your personal assets, such as the equity in your home. 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 participate in the financial assistance programs available through the SBA. 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. Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

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