We wrote this article for small business proprietors in Napoleon, Ohio who are interested in getting a small business loan.
Local Napoleon Lending Resources
To help you learn more about local small business lenders, here's our list of small business banks in Napoleon.
|Small Business Bank
||Recent SBA Loans
|First Federal Bank
SBA Lenders for Napoleon Businesses
This is a list of banks outside of Napoleon, Ohio that have provided SBA loans to Napoleon businesses. Some of these may be national banks with local branch locations.
Napoleon Business Loan Advice
Prior to reaching out to lenders 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.
Having a business plan is is critically important. If the loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 to guarantee the loan 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 these banks are SBA lenders. Before you sit down to talk with a small business 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
If you are new to our Gaebler.com site, you should know that we are devoted to providing advice to entrepreneurs, and we have a
lot of resources related to to Raising
Money. If raising money is on your to-do list, we would suggest you read 504 Loans.
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