We wrote this article for small business proprietors in Jefferson, Ohio who are interested in getting a small business loan.
Local Jefferson Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Jefferson.
|Small Business Bank
||Recent SBA Loans
SBA Lenders for Jefferson Businesses
This is a list of banks outside of Jefferson, Ohio that have provided SBA loans to Jefferson businesses. Some of these may be national banks with local branch locations.
Jefferson Business Loan Advice
Prior to contacting banks to discuss getting 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.
Having a business plan is an important prerequisite. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, 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 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.
Gaebler.com Advice on Raising Money
If you are serious about Raising
Money, you need to educate yourself. If you haven't read it
already, we recommend you review
Business Cash Advances.
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