Ohio Business Loans

Get access to revolving funds when you need it most

Dane Panes

October 25, 2021

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Companies in Ohio

Financing for Companies in Ohio

Ohio, “The Buckeye State” has a very strong economy, ranking as high as number seven in the country. The state generates over 600 billion dollars and has variety of industries and businesses that contribute. Manufacturing, Distribution and logistics, bioscience, agriculture, food processing, professional services and aerospace are the leading industries for the state.
SMB Compass provides business loans in Ohio to a wide range of businesses and industries to help the local economy.

Manufacturing Loans in Ohio

Over the last decade there has been a big jump in the manufacturing and production industries. Ohio is one of the top contributors for the production of gross domestic products. Walmart is the state’s top producing entity and is constantly working with small businesses, which allows smaller businesses to grow and capitalize on Ohio’s strong economy. The states manufacturing industry contributes to over 15% of the state’s economy and adds much need revenue and jobs to the local economy. Small businesses make up a large portion of the manufacturing industry throughout the state.
These businesses use small business loans in Ohio to help finance projects and purchase inventory. Small business loans also allow business owners to secure more contracts for future business opportunities.

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Agriculture Loans in Ohio

Agriculture Loans in Ohio

The agriculture and food packaging industry is prevalent in Ohio’s economy. The state is reliant on soybeans, corn and other greenhouse products. While livestock, wheat and oats are also strong catalysts in the states agriculture industry. The Midwest region is known for its livestock and meat production and Ohio is no exception. The high quality and quantity of livestock is a strong revenue source for businesses in the state.

Aviation and Aerospace Loans in Ohio

Home of the Wright Brothers, Ohio is a strong force in aviation and aerospace industries. Small businesses produce mass amounts of parts and materials for larger companies in the area. Ohio produce materials and ship products to companies around the world. Businesses in these industries have to deal with high upfront costs and use small business loans in Ohio to cover added expenses. 30 to 60-day payment terms are common for these businesses, which put a strain on the cash flow in the businesses. A small business loan in Ohio allows business owners to finance projects and execute for their clients.
multi purpose loan

Hospitality Loans in Ohio

Ohio generates a large amount of revenue from the entertainment and tourism industries. Ohio has a large number of attractions that bring visitors to the state on an annual basis. The Rock & Roll Hall of Fame and the Football Hall of Fame are crucial to Ohio’s entertainment and tourism industries. The Ohio State Football program also has rich traditions and a long history of success. People visit Ohio from around the nation to watch the Buckeyes play.

Trucking and Logistics Loans in Ohio

Green energy and logistics are a major focus in Ohio’s economy. Ohio’s central geographic location allows for logistics companies to be relevant throughout the country. This helps business owners service larger companies and populations. Advanced energy tactics used in Ohio are so strong; other states across the country are adapting to their ways. The energy industry has emerged over the last few years has made Ohio one of top producers in the nation. Equipment financing and small business loans in Ohio provide needed machinery and working capital.

Small Business Loans in Ohio

ohio loan

Here are the many ways to use a small business loan in Ohio

Acquire a business

Refinance existing loans and credit card debt

Purchase or refinance commercial real estate

Buy or lease machinery and equipment

Purchase inventory and raw materials

Improve Cashflow

Marketing and advertising campaigns

Upgrade technology and business software

Renovate existing office space

Day to day operating expenses

Learn About Your Financing Options

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