Commercial lending in Ohio finances business ventures, which helps stimulate the economy. Businesses that use commercial lending in Ohio develop existing property or purchase new property with the funds. Commercial mortgage providers in Ohio follow strict lending guidelines to determine if a venture is worth the risk. That’s why you need to be sure you know what you are getting into and with whom before you start making deals.

If you have all the documents you need in order before you start searching out commercial mortgage brokers in Ohio, you improve your odds of receiving funding. Here’s what you need before you walk in your lender's door:

1. A selected property;

2. Money for the down payment, closing fees, appraisals, environmental testing and legal fees;

3. Risk assessment of the type of business you are getting into with the property;

4. A business plan, which includes long-term financial projections.

Action Steps
The best contacts and resources to help you get it done

Research Ohio commercial lending companies online

Doing your research online saves you a lot of footwork as you shop for commercial mortgage brokers in Ohio. Look for Ohio commercial loan lenders with offices near your business' location who provide one-on-one financial services and offer low Ohio home equity interest rates.

I recommend: Visit OhioFreshStart.com to receive online quotes from several different Ohio commercial lending companies.

Shop for commercial lenders in Ohio in-person

Meet with several different Ohio commercial lenders and let them know you are shopping around; they'll be inclined to work a little harder to get your business. Talk directly with each company about the conditions of the loan, down payments and balloon payments. Ohio commercial mortgage lenders are eager to work with individuals with solid plans.

I recommend: Visit local Ohio commercial lenders specific to your area like Blue Ribbon Mortgage in Cincinnati or Grubb & Ellis in Cleveland.

Use the Small Business Administration's (SBA) resources to find Ohio commercial lenders

The Small Business Development Centers of Ohio can assist you in the commercial lending process with advice. SBA approved Ohio commercial loans often have many benefits over other types of business loans and may be easier to obtain.

I recommend: Visit SBA approved lenders such as Midwest Business Capital and LendingTree. Look into Ohio commercial loans provided directly by the SBA like the Ohio Enterprise Bond Fund or the 166 Direct Loan.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Some lenders only provide a commercial loan in Ohio for $500,000 or more. If you need a smaller amount, you may be subject to higher fees.
• •  Look at the bank you already use for your personal and business finances. Your history with them may allow you quicker access to fund than if you use other commercial lenders in Ohio.
• •  Some commercial property dealers offer discounts if you work with an approved commercial lender. Get the list to narrow down your potential lenders.