If you’re seeking sba loan wellsville ohio loan options in Wellsville, Ohio, here are some avenues you can explore:
SBA Loan Programs
The SBA offers various loan programs tailored to different business needs:
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7(a) Loan Program: This is the sba loan wellsville ohio primary program for providing financial assistance to small businesses. It can be used for various purposes, including working capital, equipment purchase, and real estate acquisition.
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504 Loan Program: Designed for the purchase of fixed assets like real estate or equipment, this program offers long-term, fixed-rate financing.
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Microloan Program: Provides smaller loan amounts (up to $50,000) to startups or growing small businesses for working capital or the purchase of inventory, supplies, or equipment.Grow America
Local SBA-Approved Lenders
Several financial institutions in and around Wellsville are SBA-approved lenders:
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Consumers National Bank: Offers both 7(a) and 504 SBA loans with competitive terms.
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WesBanco, Inc.: Has branches in nearby areas and provides SBA loan services.
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First Commonwealth Bank: Offers a range of SBA loan products suitable for various business needs.
SBA District Office Support
The Cleveland District Office of the SBA serves northern Ohio, including Wellsville. They provide resources and guidance on SBA loan programs and can connect you with local lenders.
Small Business Development Centers (SBDCs)
Ohio’s SBDCs offer free business consulting and training services, including assistance with SBA loan applications. They can help you prepare your business plan and financial statements, which are crucial for loan approval.
Online Resources
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SBA’s Lender Match Tool: An online platform that connects small businesses with SBA-approved lenders.
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Ohio Statewide Development Corporation: Provides SBA 504 loans and can assist with financing for real estate and equipment purchases.
Before applying, ensure your business plan is comprehensive and your financial records are up-to-date. This preparation will increase your chances of securing an SBA loan.
