Loan Census Banking News and Information
August 20, 2019  
 
 
  Business Loan Information  
 

Small Business Lenders in Edison, Ohio

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Edison, Ohio, we've assembled a list of local small business banks that you should contact.

Lenders for Edison Businesses

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

Small Business Bank Recent SBA Loans
First-knox National Bank
Mount Vernon, OH
1
Jpmorgan Chase Bank
Houston, TX
1

Business Loan Advice for Edison Businesses

Prior to meeting with banks to get a bank 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 your ability to pay the loan back to the bank.

Having a business plan is essential. If the financing is to for an existing 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 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 these banks are SBA lenders. Before you sit down to talk with a small business banker, 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

Invest the time to learn as much as you can about Raising Money. To get started, we suggest you read Bank Credit Lines.

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