One of the most important issues that face new businesses is how to obtain cash for the creation and initial operation of the business. One of the most common errors in starting a business is that of being "under capitalized" or under funded when starting the business. The following is a general outline of where to potentially obtain loans within Springboro or Warren County.
Small Business Administration (SBA) Loans
SBA Loans are administered by the federal government as a lower interest, lower cost way of financing new businesses in the United States. A local financial institution normally underwrites such loans and professionals often provide low or no cost technical assistance to the owners of the business so that the business can eventually generate the funds to repay the loan.
For more information concerning small business loans, please visit the U.S. SBA website.
Fixed Asset Loans
Fixed Asset Loans are primarily used for the acquisition of machinery and equipment or real estate. They can also be used to purchase existing buildings in which you would operate your new business. Many different entities such as County Corp or the Warren County Office of Economic Development offer these types of loans.