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

Montgomery, Ohio Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Montgomery, Ohio are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Montgomery, Ohio, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Montgomery Businesses

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

Small Business Bank Recent SBA Loans
Jpmorgan Chase Bank
Houston, TX
1
Washington Mutual Bank
Henderson, NV
1

Montgomery Bank Loan Tips

As a prerequisite to reaching out to lenders for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

A well-defined business plan is is critically important. If the money 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 secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to do your homework 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 dedicated to aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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