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August 20, 2019  
 
 
  Business Loan Information  
 

Business Loan Jewett, Ohio

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Jewett, Ohio who are interested in getting a bank loan.

Other Lending Resources for Jewett Businesses

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

Small Business Bank Recent SBA Loans
Ameribank
Dillonvale, OH
1
National City Bank
Cleveland, OH
1

Tips for Getting a Business Loan in Jewett

Before contacting banks 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 bank.

Having a business plan is an important prerequisite. If the financing is to for a going concern, 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 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 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 learn as much as you can. If you haven't read it already, we recommend you review Business Incubators.

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