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Best SBA Loans in Ohio Jan 2025
Government-backed loans for your small business
Small Business Administration loans are the best way for small businesses to enjoy the lowest rates. Compare lenders and apply for an SBA loan today.
Best Business Loans in Ohio for January 2025
Find funding that suits your business
Best SBA Loans in Ohio Jan 2025
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Updated January 2025
1
Editor's Choice
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9.8
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Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
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9.6
Customer Engagement
Based on click-share
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9.9
Products & Offerings
Based on our
editorial analysis
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9.6
additional info
Learn more on how we score
9.8
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Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
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9.6
Customer Engagement
Based on click-share
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9.9
Products & Offerings
Based on our
editorial analysis
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9.6
additional info
Learn more on how we score
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Safety Net With Flexibility
  • Free and easy online application
  • Dedicated lending specialists
Apply Now
Visit Lendio
More info:
Funding Amount
$5K-$2M
Time in Business
12+ months
Monthly Revenue
$20K+
Min. Credit Score
600
2
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9.1
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Outstanding
Scores are calculated based on:
Brand Performance
Based on data insights
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9.0
Customer Engagement
Based on click-share
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8.8
Products & Offerings
Based on our
editorial analysis
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9.9
additional info
Learn more on how we score
9.1
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Outstanding
Scores are calculated based on:
Brand Performance
Based on data insights
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9.0
Customer Engagement
Based on click-share
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8.8
Products & Offerings
Based on our
editorial analysis
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9.9
additional info
Learn more on how we score
Ranked in Deloitte's Fast 500
  • Fast & easy application
  • Wide range of financing options
Apply Now
Visit Biz2Credit
More info:
Funding Amount
$25K - $6M¹
Time in Business
18+ months
Monthly Revenue
$10K+
Min. Credit Score
650
3
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8.9
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.4
Customer Engagement
Based on click-share
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8.5
Products & Offerings
Based on our
editorial analysis
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9.4
additional info
Learn more on how we score
8.9
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.4
Customer Engagement
Based on click-share
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8.5
Products & Offerings
Based on our
editorial analysis
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9.4
additional info
Learn more on how we score
Strong Option for Building Credit
  • Applications reviewed in minutes
  • Receive funds in as fast as 24 hours
Apply Now
Visit OnDeck
More info:
Funding Amount
$5K-$250K
Time in Business
12+ months
Monthly Revenue
$9K+
Min. Credit Score
625
4
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8.6
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.3
Customer Engagement
Based on click-share
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8.0
Products & Offerings
Based on our
editorial analysis
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9.0
additional info
Learn more on how we score
8.6
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.3
Customer Engagement
Based on click-share
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8.0
Products & Offerings
Based on our
editorial analysis
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9.0
additional info
Learn more on how we score
Helped Over 85K Small Businesses
  • Hands-on support for fast funding
  • Provides transparent fee information
Apply Now
Visit Fundera
More info:
Funding Amount
$5K-$1M
Time in Business
12+ months
Monthly Revenue
$15K+
Min. Credit Score
580
5
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8.8
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.9
Customer Engagement
Based on click-share
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9.0
Products & Offerings
Based on our
editorial analysis
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7.2
additional info
Learn more on how we score
8.8
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.9
Customer Engagement
Based on click-share
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9.0
Products & Offerings
Based on our
editorial analysis
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7.2
additional info
Learn more on how we score
Well-Established Lending Marketplace
  • 24-48 hour turnaround
  • Compare rates before taking a loan
Apply Now
Visit LendingTree
More info:
Funding Amount
$5K-$1M
Time in Business
12+ months
Monthly Revenue
$10K+
Min. Credit Score
550
6
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8.3
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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8.9
Customer Engagement
Based on click-share
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7.8
Products & Offerings
Based on our
editorial analysis
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9.0
additional info
Learn more on how we score
8.3
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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8.9
Customer Engagement
Based on click-share
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7.8
Products & Offerings
Based on our
editorial analysis
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9.0
additional info
Learn more on how we score
Get Funded Within 24-48 Hours
  • Fast 3-step funding process
  • No prepayment penalties
Apply Now
Visit Fora
More info:
Funding Amount
$5K-$1.5M
Time in Business
18+ months
Monthly Revenue
$20K+
Min. Credit Score
600
7
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8.6
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.9
Customer Engagement
Based on click-share
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8.3
Products & Offerings
Based on our
editorial analysis
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7.9
additional info
Learn more on how we score
8.6
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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9.9
Customer Engagement
Based on click-share
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8.3
Products & Offerings
Based on our
editorial analysis
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7.9
additional info
Learn more on how we score
Pay Fees Only On The Amount You Use
  • Simple application process
  • Funds in as little as a few days
Apply Now
Visit American Express® Business Line of Credit
More info:
Funding Amount
$2K-$250K
Time in Business
12+ months²
Monthly Revenue
avg. $3K+²
Min. Credit Score
660²
8
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8.2
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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8.3
Customer Engagement
Based on click-share
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7.5
Products & Offerings
Based on our
editorial analysis
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9.2
additional info
Learn more on how we score
8.2
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Very Good
Scores are calculated based on:
Brand Performance
Based on data insights
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8.3
Customer Engagement
Based on click-share
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7.5
Products & Offerings
Based on our
editorial analysis
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9.2
additional info
Learn more on how we score
Top-Rated Business Lending Platform
  • Get matched with a lender in minutes
  • Choose the best loan terms for you
Apply Now
Visit Lendzi
More info:
Funding Amount
$10K-$5M
Time in Business
18+ months
Monthly Revenue
$12K+
Min. Credit Score
620
Top Choice Overall
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9.8
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Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
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9.6
Customer Engagement
Based on click-share
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9.9
Products & Offerings
Based on our
editorial analysis
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9.6
additional info
Learn more on how we score
9.8
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Exceptional
Scores are calculated based on:
Brand Performance
Based on data insights
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9.6
Customer Engagement
Based on click-share
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9.9
Products & Offerings
Based on our
editorial analysis
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9.6
additional info
Learn more on how we score
  • Flexible, accessible loans
  • Network of 75+ lenders
  • 15-minute application
  • Support by phone & contact form
Apply Now
Visit Lendio
FAQs About SBA Loans
Financing your business has become easier than ever with the many lenders and business loan providers available. From SBA loans to lines of credit, companies can apply for many types of loans in the market. Get started with the most commonly asked questions about business loan services.
What is an SBA Loan?
In simple terms, an SBA loan refers to a small business loan partially guaranteed by the government through the Small Business Administration (SBA). The SBA works with a network of approved financial institutions that lend money to small businesses. The SBA agency doesn’t lend money directly to small business owners, but it sets guidelines for loans by partnering with lending institutions.


SBA loans range from $500 to $5 million dollars, and the loan term ranges from 5 to 25 years. Interest rates start at 3.4% and extend up to 13%, depending on the type of loan you look into. There are four types of SBA loans:


• SBA 7(a) loans

• SBA 504/CDC loans

• SBA microloans

• SBA express loans.


Business owners who are looking into these loans must have a legally registered and officially operating for-profit business that operates in the United States, have invested equity into their business, be able to repay the loan, and have exhausted other financial options. Other stipulations and eligibility requirements depend on the loan applied for, the lender, and the financial/credit status of the business owner.

What are the typical terms of an SBA loan?
Terms can vary and can range from 3.72% to 13%, depending on which SBA loan program you are borrowing through, how much you borrow, the repayment term length, and your business qualifications. SBA loans can range in size from $500 to $5 million. Repayment terms vary: 25 years for real estate/equipment and 10 years for working capital.


The 7(a) loan is the SBA’s most popular product and offers a flexible sum of cash for a variety of uses, including daily operations, purchasing new products, and refinancing high-interest loans. Your SBA loan rate depends on the current US Prime Rate.
How can I apply for an SBA loan?
The best place to start is on the SBA website. Look for an SBA Prefered Lender. Banks are the most popular, but online platforms are also available. SBA loans require a significant amount of paperwork. The loan process takes an average of 60 to 90 days to complete as the SBA and the lender review all of your documents. This can vary according to the SBA loan program and the lender you work with.
Who can qualify for an SBA loan?
SBA loans can be difficult to qualify for and come with some general minimum requirements. Your lender will analyze your financials, business history, ability to repay the loan, and plans for the use of the proceeds. Prepare to have good credit, cash flow, and a strong balance sheet with 2 years of business history.
How do SBA loans differ from traditional business loans?
The big difference between an SBA loan and a conventional loan is that the government partially guarantees an SBA loan. While lenders provide the funds on an SBA loan, the agency guarantees a portion of that amount. If you default on the loan, the SBA pays out the guaranteed amount. This allows for longer payment terms and lower monthly payments. Conventional business loan payment terms typically only last 5 years. An SBA loan can last as long as 25 years.
If I get rejected for an SBA loan, what are my options?
Lenders follow SBA guidelines but use their own underwriting criteria to evaluate loan applications. The first step involves finding out why you were denied. There are clear ways to strengthen your application and apply for an SBA loan in the future by improving your credit score, growing your business history, and increasing your annual revenue.

¹Biz2Credit Disclosure: See website for details. Varies depending on product and qualifications.
²American Express Business Line of Credit Disclosure: All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors. American Express® Business Line of Credit offers two loan types, installment loans and single repayment loans for eligible borrowers. All loan term types, loan term lengths, and pricing are subject to eligibility requirements, application, and final approval. This chart contains general information about the American Express® Business Line of Credit installment loan type only.
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