If you are looking for a small business loan and your business is based in Swanton, Ohio, we've put together a list of local small business banks that you should contact.
Local Swanton Lending Resources
To assist you in finding a small business banker, here's our list of small business banks in Swanton.
|Small Business Bank
||Recent SBA Loans
|Bank of America
|Farmers & Merchants State Bank
|Fifth Third Bank
SBA Lenders for Swanton Businesses
This is a list of banks outside of Swanton, Ohio that have provided SBA loans to Swanton businesses. Some of these may be national banks with local branch locations.
Swanton Bank Loan Tips
Prior to 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 introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the lender.
Having a business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 to guarantee the loan 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 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
Gaebler.com is a site that is passionate about providing advice to small business owners, and we have a
lot of information pertaining to to Raising
Money. For example, we would suggest you read Attracting Investors.
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