If you are looking for a small business loan and your business is based in Norwalk, Ohio, we've put together a list of local small business banks that you should contact.
Local Norwalk Lending Resources
To help you learn more about local small business lenders, here's our list of small business banks in Norwalk.
|Small Business Bank
||Recent SBA Loans
|American General Financial Services
|Charter One Bank
|Citizens Banking CO
|Citizen's National Bank of Norwalk
|Croghan Colonial Bank
Lenders for Norwalk Businesses
This is a list of banks outside of Norwalk, Ohio that have provided SBA loans to Norwalk businesses. Some of these may be national banks with local branch locations.
Norwalk Bank Loan Tips
As a prerequisite to contacting banks to discuss getting a bank 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 bank.
Having a business plan is is critically important. If the capital 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 to guarantee the loan with 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 you sit down to talk with a small business banker, you may want to read up on 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.
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