These materials were prepared for small business proprietors in Salesville, Ohio who are interested in getting a small business loan.
Lenders for Salesville Businesses
This is a list of banks outside of Salesville, Ohio that have provided SBA loans to Salesville businesses. Some of these may be national banks with local branch locations.
Salesville Business Loan Advice
As a prerequisite to meeting with lenders to discuss getting a bank loan, you will need to have a specific plan.
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.
Having a business plan is is critically important. If the capital 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 secure 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 pledge your personal assets, such as the equity in your home. 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 are SBA lenders. Before meeting with the 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
Our Gaebler.com site is dedicated to assisting entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. To learn more, we would suggest you read Microlending as a Small Business Funding Source.
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