Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Mayfield Heights, Ohio

 
Loan Census SBA Loan Info

Looking for a Mayfield Heights, 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 Mayfield Heights, Ohio, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Mayfield Heights Businesses

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

Small Business Bank Recent SBA Loans
Citizens Bank
Pepper Pike, OH
1
Dollar Bank A Fed. Savings Bk
Cleveland, OH
1
Keybank National Association
Cleveland, OH
4
National City Bank
Cleveland, OH
6
National City Bank
Indianapolis, IN
1
Rbs Citizens
Providence, RI
5
The Huntington National Bank
Columbus, OH
5
The Huntington National Bank
Salineville, OH
1
U.S. Bank National Association
Cincinnati, OH
2

Business Loan Advice for Mayfield Heights Businesses

Prior to contacting banks to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Having a business plan is an important prerequisite. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 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

Make it a priority to learn as much as you can about Raising Money. To get started, we recommend you read How Equity Dilution Works.

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