Loan Census Banking News and Information
December 12, 2019  
  Business Loan Information  

Small Business Lenders in Independence, Ohio

Loan Census SBA Loan Info

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

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

Local Independence Business Loan Sources

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

Small Business Bank Recent SBA Loans
Banc One Financial Services Inc  
Charter One Bank  
Dollar Bank - Branch Offices- South- Independence Office  
Firstar Information Services  
Independence Bank 1

SBA Lenders for Independence Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Cit Small Business Lending Corp
Livingston, NJ
First Western Sblc, Inc
Dallas, TX
Firstmerit Bank
Akron, OH
Grow America Fund Inc
New York, NY
Jpmorgan Chase Bank
Houston, TX
Keybank National Association
Cleveland, OH
National City Bank
Cleveland, OH
National City Bank
Indianapolis, IN
Rbs Citizens
Cleveland, OH
Rbs Citizens
Providence, RI
Stearns Bank
Saint Cloud, MN
The Huntington National Bank
Columbus, OH
The Huntington National Bank
Salineville, OH
The Lorain National Bank
Lorain, OH
U.S. Bank National Association
Cincinnati, OH

Business Loan Advice for Independence Businesses

Before reaching out to banks for a 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 loan 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 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 pledge 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 are SBA lenders. Prior to visiting local banks, 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

Our site is dedicated to helping small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Choosing VC Firms.

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