Loan Census Banking News and Information
September 20, 2019  
 
 
  Business Loan Information  
 

Norwalk, Ohio Small Business Loans

 
Loan Census SBA Loan Info

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

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.

Small Business Bank Recent SBA Loans
Home Savings & Loan Co - Youn
Youngstown, OH
1
Capital One
Mclean, VA
1
Keybank National Association
Cleveland, OH
4
National City Bank
Cleveland, OH
9
National City Bank
Indianapolis, IN
1
Rbs Citizens
Providence, RI
6
The Citizens Banking Company
Sandusky, OH
8
The Croghan Colonial Bank
Fremont, OH
2
The Huntington National Bank
Columbus, OH
1

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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