Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Willoughby, Ohio Business Loan

 
Loan Census SBA Loan Info

Looking for a Willoughby, 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 Willoughby, Ohio who are interested in getting debt financing.

Local Willoughby Banks

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

Small Business Bank Recent SBA Loans
Bank One - Banking Centers- Lake County- Willow Plaza  
Charter One Bank - Branch Locations- Kirtland  
Charter One Bank - Branch Locations- Willoughby  
Fifth Third Bank - Banking Centers- Willoughby  

SBA Lenders for Willoughby Businesses

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

Small Business Bank Recent SBA Loans
Business Lenders, LLC
Hartford, CT
1
Capital One
Mclean, VA
6
Capital One Bank (usa)
Glen Allen, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
Citizens Bank
Lansing, MI
1
Citizens Bank
Pepper Pike, OH
2
Fifth Third Bank
Cincinnati, OH
1
Firstmerit Bank
Akron, OH
8
Jpmorgan Chase Bank
Columbus, OH
1
Jpmorgan Chase Bank
Houston, TX
20
Keybank National Association
Cleveland, OH
3
National City Bank
Cleveland, OH
13
National City Bank
Indianapolis, IN
1
National City Bank
Pittsburgh, PA
1
Rbs Citizens
Cleveland, OH
5
Rbs Citizens
Providence, RI
43
Telesis Community Cu
Chatsworth, CA
1
The Huntington National Bank
Columbus, OH
6
The Huntington National Bank
Salineville, OH
12
The Huntington National Bank
Warren, OH
3
U.S. Bank National Association
Cincinnati, OH
14
United Midwest Savings Bank
De Graff, OH
1
Wells Fargo Bank
Sioux Falls, SD
1

Willoughby Business Loan Advice

Prior to contacting banks for a 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 how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the money 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 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to do your homework 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

Make it a priority to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

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