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

Wyoming, Ohio Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Wyoming, Ohio! If that's what's on your mind, you've come to the right place.

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

Local Wyoming Business Loan Sources

To assist you in finding a small business banker, here's our list of small business banks in Wyoming.

Small Business Bank Recent SBA Loans
Spring Valley Bank 18

Wyoming Bank Loan Tips

Before meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

Having a business plan is an important prerequisite. 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. Prior to visiting local banks, 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 helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we would suggest you read 504 Loans.

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