Looking for an Ohio small business loan? If you're in Columbus, you may be able to take advantage of a low-key business community.
Racked recently discussed the low-key business profile of Columbus, a city it says is typically "overlooked." Because of this, there could be more resources here than others may immediately expect, especially considering the loans available.
To be fair, the company profiled in the article isn't exactly a small business. Abercrombie & Fitch reportedly maintains its headquarters there, and historically, Columbus has worked as a kind of "test market" for bigger brands, given its demographics.
Joanna Felder, the Vice President of a local branding firm, said the city's connection with "middle America" is part of what makes it valuable.
"Abercrombie & Fitch reportedly maintains its headquarters in Columbus."
"We can actually see how an idea works with a regular customer, not just a New York shopper or tourist," she said. "We're not cluttered with opinions and attitudes in Columbus, so there's a lot of make-or-break market testing here."
Of course, there are other cities in Ohio with promise. Next City recently wrote about Cleveland, mentioning some of the promise and issues that local entrepreneurs have in obtaining funds.
One representative of the Urban League of Greater Cleveland said that minority small business owners, in particular, face difficulties in finding loans due to net worth concerns. For these entrepreneurs, a source of capital could be the key ingredient to kicking off a new business venture successfully.
Growth Capital understands this and offers loan programs that fit the local Ohio community. With the SBA 504 program for example, owners can expand existing buildings or try to construct new ones with freshly allocated resources. Contact us today to learn more or register for our mailing list to get regular updates.