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

Fairport Harbor, Ohio Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Fairport Harbor, Ohio small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Fairport Harbor, Ohio, we've put together a list of local small business banks that you should contact.

Other Lending Resources for Fairport Harbor Businesses

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

Small Business Bank Recent SBA Loans
Firstmerit Bank
Akron, OH
1
Jpmorgan Chase Bank
Houston, TX
1

Fairport Harbor Bank Loan Tips

Before reaching out to lenders 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 plan to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the loan 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 guarantee 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, 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 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 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 passionate about helping small business owners, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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