There are a number of financial institutions that support small businesses with debt-based financing (loans). Most people immediately think of a commercial bank. Commercial banks can be a great way to get the necessary capital to start up but usually require specific information before they decide to invest. If you have a relationship with a current banker it may be best to check with them first. Many banks rely on relationships with current customers of the bank and may be more willing to invest when they have an established relationship.

Below is a list of local banks with contact information in the northeast Ohio area that loan money to startups. Don't get discouraged if you are not approved right away. They will usually give you insight into their decision-making process which can help you improve your business plan and the documents they require in order to lend money.

The Small Business Administration (SBA) provides backing of certain loans. While they do not provide direct loans to small businesses, they set guidelines for loans and then guarantees that the loan will be repaid. This allows a small business to secure a loan that they otherwise might not able to secure. The bank is much more willing to loan the money when the Small Business Administration guarantees the loan will be repaid, because this reduces their risk. For more information on the Small Business Administration's role in small business financing click here.

There are several SBA loan options. Click here for a detailed look at each option.

Buckeye Community Bank
440.233.8800
SBA 7A, 504 and Low Doc financing

------------------------------------------------------------------------

Charter One Financial
855.428.7463

------------------------------------------------------------------------

Consumers National Bank
800.948.1262

------------------------------------------------------------------------

Cortland Savings and Banking Co.
800.366.2664
SBA Express, SBA 405 Certified Development Company Program, SBA 7 (A) Loan Guarantee Program

------------------------------------------------------------------------

Farmers National Bank Corp
Dan Schiavone
Dschiavone@farmersbankgroup.com

------------------------------------------------------------------------

Fifth Third Bank Inc.

------------------------------------------------------------------------

First National Bank
John R. Macks
330.475.1367
johnmacks@discoverfirstnational.com
SBA 7(a) Loans

John D. Shultz, Jr.
330.236.4792
johnshultz@discoverfirstnational.com
SBA 504 Loans

Darrell L. Smucker
330.756.0610
darrellsmucker@discoverfirstnational.com
SBA Express Loans

------------------------------------------------------------------------

FirstMerit Bank
330.996.6242
Preferred lender for SBA

------------------------------------------------------------------------

Huntington National Bank & Private Financial Group
Craig McCarthy
1545 East 260th Street
Euclid, OH 44132
216-731-8865

------------------------------------------------------------------------

KeyBank


David Komjati
8 North State Street 
Painesville, OH 44077
David_Komjati@KeyBank.com
440-352-5258

Akron/Canton Location
614.460.3418

Cleveland Location
216.689.8651

Toledo Location
586.446.4131

------------------------------------------------------------------------

Liberty Bank
216.359.5597

Richard Parkin
rparkins@libertybankna.com

James Hojnacki
jhojnacki@libertybankna.com

Jamie Brotherton
jbrotherton@libertybankna.com

Christopher Smerglia
scmerglia@libertybankna.com

------------------------------------------------------------------------

Lorain National Bank
4402454562
U.S. SBA Certified and Preferred Lender

------------------------------------------------------------------------

Middlefield Banking Co
Jay P. Giles
440.632.1664
jgiles@middlefieldbank.com

Sharon Jarold
440.286.1222
sjarold@middlefieldbank.com

Matt Belin
330.572.2121
mbellin@middlefieldbank.com

Dennis Linville
330.673.3208
dlinville@middlefieldbank.com

------------------------------------------------------------------------

National City Corp
888.762.2265
SBA Loans available to for profit business