This article is written specifically for small business owners in Delta, Ohio who are interested in getting a small business loan.
Local Delta Lending Resources
To help you learn more about local small business lenders, here's our list of small business banks in Delta.
|Small Business Bank
||Recent SBA Loans
|Farmers & Merchants State Bank
|First Federal Savings & Loan Association of Delta
|First Federal Savings and Loan Association of Dlta
Other Lending Resources for Delta Businesses
This is a list of banks outside of Delta, Ohio that have provided SBA loans to Delta businesses. Some of these may be national banks with local branch locations.
Delta Business Loan Advice
As a prerequisite to meeting with banks to discuss getting 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.
Being able to present a well-written business plan is is critically important. If the capital is to for a company that is already doing business, 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, the bank may ask you to 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 these banks participate in the financial assistance programs available through the SBA. 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
Gaebler.com is a site that is all about assisting entrepreneurs, and we have a
lot of resources related to to Raising
Money. For example, we recommend you read 504 Loans.
Business Loan Sources for Other Cities in Ohio
Get a Business Loan in Delphos
Get a Business Loan in Dover
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