Loan Census Banking News and Information
February 16, 2020  
  Business Loan Information  

Ravenna, Ohio Business Loan

Loan Census SBA Loan Info

Looking for a Ravenna, Ohio small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business owners in Ravenna, Ohio who are interested in getting a bank loan.

Local Ravenna Lenders

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

Small Business Bank Recent SBA Loans
Bank One - Ravenna Ofc- Jubilee Machine Location  
Charter One Bank - In-Store Tops- Ravenna  
Portage Banc Shares, Inc 1
Portage Community Bank 12

Lenders for Ravenna Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Firstmerit Bank
Akron, OH
Jpmorgan Chase Bank
Houston, TX
Keybank National Association
Cleveland, OH
Middlefield Bank Co
Middlefield, OH
National City Bank
Cleveland, OH
Rbs Citizens
Providence, RI
Stearns Bank
Saint Cloud, MN
The Huntington National Bank
Columbus, OH
The Huntington National Bank
Salineville, OH
The Huntington National Bank
Warren, OH
U.S. Bank National Association
Cincinnati, OH
Wells Fargo Bank
Sioux Falls, SD

Ravenna Business Loan Advice

Before meeting with 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the money is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to secure the business 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 meeting with the 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. Advice on Raising Money is a site that is all about providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Choosing VC Firms.

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