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

Small Business Lenders in Painesville, Ohio

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Painesville, Ohio, we've assembled a list of local small business banks that you should contact.

Local Painesville Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Painesville.

Small Business Bank Recent SBA Loans
Dollar Bank - Lake County- Branch Offices- Painesville Office  
Dollar Bank - Painesville Satellite Office- Branch Offices- Lake County- Painesville Satel  

Banks that Lend to Painesville Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
3
Citizens Bank
Pepper Pike, OH
1
Community So. Bank D.b.a Commun
Parsons, TN
1
First National Bank - Pennsylvania
Greenville, PA
1
Firstmerit Bank
Akron, OH
16
Jpmorgan Chase Bank
Houston, TX
14
Keybank National Association
Cleveland, OH
2
National City Bank
Cleveland, OH
9
National City Bank
Indianapolis, IN
1
Rbs Citizens
Cleveland, OH
1
Rbs Citizens
Providence, RI
17
The Huntington National Bank
Columbus, OH
4
The Huntington National Bank
Salineville, OH
2
The Huntington National Bank
Toledo, OH
1
U.S. Bank National Association
Cincinnati, OH
3
United Midwest Savings Bank
De Graff, OH
3

Business Loan Advice for Painesville Businesses

As a prerequisite to contacting banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. If the loan is to for a going concern, 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, the bank may ask you to to pledge your personal assets, such as the equity in your home. 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 these banks are SBA lenders. Before you sit down to talk with a small business banker, 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

If you are new to our Gaebler.com site, you should know that we are deeply committed to aiding entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read 504 Loans.

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