Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Beloit, Ohio Business Loan

 
Loan Census SBA Loan Info

Small business loans in Beloit, Ohio are available. You just need to talk to the right bank.

This article is written specifically for entrepreneurs in Beloit, Ohio who are interested in getting a bank loan.

Banks that Lend to Beloit Businesses

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

Small Business Bank Recent SBA Loans
Jpmorgan Chase Bank
Houston, TX
1
The Huntington National Bank
Salineville, OH
1

Beloit Business Loan Advice

Before contacting banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money back to the bank.

A well-defined business plan is is critically important. 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 guarantee 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 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 participate in the financial assistance programs available through the SBA. 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.

Gaebler.com Advice on Raising Money

If you are new to our Gaebler.com site, you should know that we are passionate about supporting entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, we would suggest you read How Much Venture Capital Is There?.

More Business Lender Lists for Ohio Cities
Get a Business Loan in Bellevue
Get a Business Loan in Belpre

Browse All Business Loan Sources for Ohio