The best small business loans for Toledo, OH

Take your business to new heights with the right financing

  • Apply in less than 60 seconds
  • Wide range of financing option for every need
  • Competitive rates and terms
  • Personalized service
  • Dedicated support team

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Industries we work with in Toledo, OH

We're proud to work with small businesses across various industries in Toledo, OH. Whether you're in healthcare, construction, or technology, we're here to help you grow and succeed. Our financing solutions are customized to meet your needs, so you can focus on what you do best - running your business!

Here are some of the many industries we serve:

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    Construction

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    Medical Practices

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    Beauty Salons

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    Retail Stores

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    Restaurants

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    Hotels

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    Manufacturing

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    Staffing

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    Automotive Businesses

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    Landscaping

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    Toy Businesses

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    Transportation

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    IT

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    Professional Services

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    Veterinary Practices

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    Franchise Businesses

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See why thousands of businesses have made SMB Compass

the top-rated small business loan provider in Toledo, OH

Garrett Cushing
Garrett Cushing
November 30, 2021.
Diligent and honest people to work with. SMB has been a great resource for my business, helped me through a variety of different financing over the years.
John Limato
John Limato
November 16, 2021.
I rarely write reviews but felt the need to thank the SMB team. Found them to be honest people that took the time to understand my business and walked me through the entire process.
Connor Johnson
Connor Johnson
November 4, 2021.
SMB helped me navigate through the growth period in my business. They were diligent and genuinely cared to make sure we got the percent line in place to meet our current needs. Very happy I was introduced to them and would highly recommend.
Michelle Cota
Michelle Cota
October 27, 2021.
I am so happy that SMB was able to help our company when we were in a jam. They were so attentive and so easy to work with. Helped step by step to get financed. Thank you Clay!
Veronica Akins
Veronica Akins
October 14, 2021.
SMB Compass was helpful and fast. They kept in contact and answered all my questions. The best part of our interactions was that the lender could have given me an extremely high interest rate loan when I thought that was my only option, but he instead told me of another option that fit our needs much better and saved us money! Thank you Clay
John Folco
John Folco
October 13, 2021.
True experts in the Commerical finance space. Great company to work with, look forward to a continued relationship.
Pat Mcandrews
Pat Mcandrews
October 8, 2021.
Great team of professionals to work with. Incredibly responsive and great problem solvers. Would recommend them to anybody.
Haroon S
Haroon S
September 22, 2021.
Clay was great to work with. Very responsive and great communication.
John Lutz
John Lutz
September 15, 2021.
Great people to work with. They were transparent and helpful from the first call to closing. I would recommend them to anyone in my network.
Matthew Seymour
Matthew Seymour
July 16, 2021.
Clay & Matt are experts in the industry and they are able to advise on a number of topics.

Learn more about our loan packages

The best small business loan in Toledo, OH

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    SBA Loans

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    Term Loan

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    Invoice Financing

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    Business Line of Credit

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    Inventory Financing

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    Bridge Loans

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    Equipment Financing

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    Asset Based Loans

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    Purchase Order Financing

FAQs about small business loans in Toledo, OH

How to get a small business loan in Toledo, OH?

If you’re looking to get a small business loan in Toledo, OH, here’s what you should do:

  1. Know what you need. Before applying for a loan, get a clear idea of how much money your business needs and how you will use the funds. Doing so can help identify the best type of loan for your needs.
  2. Check your credit score. Many lenders in Toledo, OH, will look at your credit score when reviewing your application, so knowing where you stand is important. If your score is less than ideal, consider improving it by making timely payments, keeping old accounts open, and limiting new credit applications.
  3. Research lenders. Many different types of lenders offer small business loans in Savannah, GA, including banks, credit unions, and online lenders. Research to find out which ones best fit your needs and qualifications.
  4. Prepare your application. Once you’ve identified potential lenders, prepare your loan application carefully. This may include providing financial statements, tax returns, and other documentation demonstrating your ability to repay the loan.
  5. Apply for the loan. If you’ve found a lender you’re comfortable with, it’s time to start your application. The process varies from lender to lender, but essentially, you need to submit your loan application along with the required documents. You also need to prepare to answer any additional questions the lender may have.
  6. Wait for a decision. The lender will then review your application and decide whether to approve your loan or not. Funding speed depends on the lender and loan type. Banks usually take weeks or months, while online lenders can fund your business in a day.
 

Toledo OH

Toledo OH

What is the best place to get a business loan in Toledo, OH?

There are various options to borrow money for a business in Toledo, OH, including:

  • Banks and Credit Unions: Local banks and credit unions may offer small business loans, lines of credit, and other financing options.
  • Small Business Administration (SBA) Loans: The SBA offers loans to small businesses through various programs, including the 7(a) loan program, microloans, and more.
  • Online Lenders: Online lenders offer fast and easy application process than banks and credit unions. They can approve and fund your business in less than a week.
  • Community Development Financial Institutions (CDFIs): CDFIs are organizations that provide financing and other services to underserved communities, including small businesses.
  • Friends and Family: Consider borrowing money from friends or family members who may be willing to invest in your business.

It's important to research and compare different lenders and financing options to find the best fit for your business needs.

When should you ask for a business loan in Toledo, OH?

As a business owner in Toledo, OH, it's best to ask for a business loan before you even need one. This is because the loan application process can take time, and lenders will want to see evidence that your business is stable and has a history of profitability before they will consider lending you money. Waiting until you are in a cash crunch or facing financial difficulties may make getting approved for a loan harder or result in less favorable terms. By applying for a loan proactively, you can secure funding when needed and have a financial cushion to help you weather unexpected challenges or seize growth opportunities.

How many months is a business loan in Toledo, OH?

The length of a business loan in Toledo, OH, can vary depending on the lender and the type of loan. It can range from a few months to several years. Some short-term loans have a 3-18 months repayment term, while long-term loans can have a repayment term of up to 25 years. It's important to carefully review the loan agreement terms to understand the repayment schedule and any fees or penalties for early repayment.

Small business loans available in every city in Ohio