Business Loans in Ohio
There are many ways entrepreneurs can benefit from Greenbox Capital’s alternative financing in Ohio. You can use the capital to expand to a new location, cover immediate expenses, or even invest in tax saving measures — it doesn’t matter. Provided you pass our easy eligibility criteria, you can secure funding in as little as one day.
Greenbox Capital’s Small Business Loans in Ohio
Securing a small business loan in Ohio can be a struggle, especially when taking the conventional route. While banks, traditional lenders, and Small Business Administration (SBA) loan providers all help entrepreneurs secure funding, they also have strict eligibility criteria, long wait times, and time-consuming paperwork processes.
In a state with well over a million small businesses, this isn’t ideal.
That’s why Greenbox Capital offers an alternative approach. Our Ohio small business loans — including merchant cash advances, business lines of credit, and more — are designed to help small-scale enterprises grow, regardless of credit history, and minus the hassle of applying with a traditional lender. On this page, you’ll find a simplified breakdown of our options — and a step-by-step guide to getting a business loan in Ohio.
Diverse Options For Business Funding in Ohio
Many entrepreneurs are frustrated by the lack of options when it comes to securing a loan. Banks and traditional lenders usually avoid handing out short-term, low amount loans. What’s more? Strict eligibility prevents hundreds of thousands of businesses from securing the funds they need.
Greenbox Capital’s options are designed to cater to specific needs — with amounts ranging from $3,000 to $500,000. Our flexible terms, low-cost options, and expert advisors offer some much-needed diversity and clarity when applying for a loan.
Small Business Loans
In Ohio, small-scale enterprises make up 99.6% of businesses, and employ nearly half the state’s employees. Clearly, without access to appropriate funding, it’s not just entrepreneurs who suffer, but the state’s economy.
Greenbox Capital’s range of Ohio business loans foster growth across industries with multiple short-term low-cost options.
These alternative funding options are ideal for businesses with low credit scores, those who need to cover payroll or inventory expenses, or for renovation and expansion plans. Our focused equipment loans, meanwhile, allow businesses to secure funds they need to acquire machinery and scale operations.
Merchant Cash Advances
Businesses with a high volume of credit or debit card sales can opt for an Ohio merchant cash advance. With this type of loan, entrepreneurs receive cash upfront in exchange for a percentage of future sales. Its terms — including eligibility criteria and repayment plans — are flexible, while the application process is greatly streamlined.
Amounts offered depend on the business’s performance. An enterprise that averages $7,500 in sales over three months, for example, qualifies for 70-120% of the amount. Moreover, you are not charged interest, but a factor rate, which is set following an initial risk assessment. This is typically between 1.10 and 1.50 of the original amount.
Business Lines of Credit
A business line of credit is a quick way for entrepreneurs to access funds as and when they need it. This type of revolving credit works like a business credit card, only without the high interest rates.
Businesses are given a fixed credit limit from which they can withdraw as much or as little as they need. A small fee is charged only on the money used — while the extra amount owed to us is based on your pre-decided factor rate.
Provided your business continues performing as well or better than it was when the credit was first taken —you have the flexibility of using funds for:
- Buying inventory
- Opening new locations
- Upgrading equipment
- Covering payroll
- Enhancing marketing
And more!
Bad Credit Business Loans
Organizations with bad credit are often left in an unfortunate situation. These businesses are often rejected by traditional lenders, making them unable to access the funds they need for growth or to build up credit history.
At Greenbox Capital, we take a more comprehensive approach to determining eligibility — studying metrics like revenue, time in operation, and more to determine your business’s potential. As a result, our small business loans in Ohio for bad credit are easy to apply for and boast of quick turnaround times.
Who is Eligible for Small Business Loans in Ohio?
Almost all industries are eligible for Greenbox Capital’s loans. Our relaxed criteria ensure that businesses across the state have the opportunity to grow, regardless of scope or scale. The types of businesses we support can be found below.
- Accounting Firms
- Attorneys
- Auto Dealers
- Auto Repair Shops
- Beauty Salons
- Cleaning Businesses
- Construction Companies
- Convenience Stores
- Daycares
- Dental Practices
- Dry Cleaners
- Gas Stations
- Home Health
- Manufacturing
- Medical Practices
- Pharmacies
- Pool Construction
- Restaurants
- Retail Stores
- Security Services
- Staffing Services
- Veterinarians
Don’t see your sector on this list? Reach out to us for more specific information.
Ohio Business Loans Types
Not all entrepreneurs start out on a level playing field. When it comes to commercial loans, many businesses are overlooked, or given harsh terms and high interest rates, purely based on the background of their owners. At Greenbox Capital, we are proud to support disadvantaged business-owners.
- Women-Owned Businesses: In the U.S., it’s estimated that only 75% of women get access to loans compared to 81% of men-owned businesses. Our loans are specifically designed to change this statistic — and ensure that there is no gender bias when it comes to securing funding.
- Minority-Owned Businesses: Minority groups are also often offered shorter terms and lower amounts by traditional lenders due to perceived risks. Greenbox Capital’s funding options, on the other hand, have more flexible requirements, and are granted to almost all minority-owned businesses within one day.
- Veteran-Owned Businesses: U.S. Army veterans often lack the experience needed to access commercial loans, while various government grants and special financing programs can take years to qualify for. We are proud to support veterans with favorable loans as they enter the new phase of their lives.
Minimum Requirements for Ohio Business Funding
Credit scores are not a major factor for securing a Greenbox Capital loan for small businesses. But, with that said, there are some basic criteria that an Ohio-based business must meet to be eligible for our diverse options.
| Minimum Revenue | $10,000 / month |
| Length in Business | 5 months or more |
| Ownership % | Minimum of 51% Ownership |
| Personal Credit | US FICO 500+ |
How to Get a Small Business Funding in Ohio
How easy is it to secure a Greenbox Capital loan? All it takes is these five steps:
- 1
Assess
Browse through our range of financing options to identify one that suits your needs.
- 2
Submit
Submit an application to Greenbox Capital via email. Don’t forget to mention your business’s legal name in the subject, and attach three months’ bank statements, and other relevant transactional data.
- 3
Select
An hour after the request is submitted, a funding advisor will get in touch to take you through your options. They will help you finalize your decision.
- 4
Receive
If everything goes according to plan, the funds will be transferred into your account within the following 24 hours.
- 5
Repay
Funds will automatically be deducted based on your revenue or sales. When deciding on a repayment plan, make sure you account for cash flow considerations.
Benefits of Greenbox Capital’s Ohio Business Loans
As an alternative financing provider, Greenbox Capital simplifies every stage of accessing a loan — from application to repayment. We’re known for our:
- Relaxed Eligibility: We fund various businesses — including those in certain high-risk industries — based on minimal criteria.
- Quick Turnarounds: Our approvals are lightning fast, with funds almost always reaching your account in 24 hours.
- Diverse Options: No two business requirements are the same. Greenbox Capital accounts for all needs with our wide range of business financing options.
- Support and Assistance: Our funding advisors help businesses secure the best possible loans, with favorable terms and flexible repayment schedules.
- Diverse Requirements: With loan amounts ranging from $3,000 to $500,000 our funding can be used for anything from expansion plans to covering payroll.
Case Studies of Business Financing across Ohio
| Company Type | Loan Type | Funded | Loan Term | Loan Benefits |
|---|---|---|---|---|
| Construction Company, Cleveland | Equipment Financing | $200,000 | 48 months | Purchased machinery to improve speed and quality of construction projects. |
| Retail Stores, Columbus and Cincinnati | Merchant Cash Advance | $25,000 | 6 months | Launched a new product line to add an additional source of income |
| Farm business, Dayton | Small Business Loan | $55,000 | 12 months | Acquired more farmland to grow lucrative crops |
| Restaurant, Akron | Business Line of Credit | $35,000 | 9 months | Remodeled parts of its kitchen to greatly reduce customer wait times |
| Attorney Firm, Toledo | Merchant Cash Advance | $95,000 | 10 months | Expanded marketing strategy and hired new staff to take on more clients |
Frequently Asked Questions about Business Financing in Ohio
What type of financing is best for a small business in Ohio?
Rather than waste time on lengthy application processes, small businesses in Ohio can opt for alternative financing with Greenbox Capital. Merchant Cash Advances are a great option for those with high volumes of credit and debit card sales, while business lines of credit have relaxed eligibility and repayment terms.
Is it hard to get a small business line of credit in Columbus, OH?
A revolving credit is one of the easiest loans to secure for businesses across Columbus. Credit limits are assessed based on a range of factors — and stay the same provided your business continues making the same revenue or more. The entire process can take as little as one day.
How do I get a merchant cash advance in Cleveland, OH?
To secure a merchant cash advance in Ohio, submit your application with Greenbox Capital, along with three months’ bank statements. For faster approvals, grant us access to your bank’s transactional data. Our advisor will reach out within an hour to discuss your Cleveland small business loan options.
How can I get a business loan with bad credit in Ohio?
Private businesses with poor credit scores can get secure quick business funding with Greenbox Capital. Rather than assess your business’s current status, we offer loans based on its potential. This makes bad credit only one of many factors that determine your eligibility, loan amounts, and repayment terms.
How to choose a small business loan for women in Columbus, Ohio?
Women entrepreneurs who struggle to get a loan from traditional lenders can opt for one of several alternative financing options with Greenbox Capital. To choose the appropriate small business loans in Columbus, consider factors like your requirements, the industry you operate in, and your business’s financial status.
Where to Get Business Funding in Ohio
- Columbus
- Cleveland
- Cincinnati
- Toledo
- Akron
- Dayton
- Parma
- Canton
- Lorain
- Hamilton
- Youngstown
- Springfield
- Kettering
- Elyria
- Middletown
- Newark
- Cuyahoga Falls
- Lakewood
- Dublin
- Euclid
- Mansfield
- Beavercreek
- Mentor
- Strongsville
- Delaware
- Fairfield
- Cleveland Heights
- Huber Heights
- Grove City
- Lancaster
- Reynoldsburg
- Findlay
- Warren
- Westerville
- Hilliard
- North Ridgeville
- Upper Arlington
- Mason
- Marion
- Gahanna
- Brunswick
- Lima
- Fairborn
- Westlake
- Stow
- Massillon
- North Olmsted
- North Royalton
- Bowling Green
- Austintown
- Garfield Heights
- Shaker Heights
- Marysville
- Kent
- Green
- Wooster
- Troy
- Avon Lake
- Medina
- Centerville
- Xenia
- Avon
- Pickerington
- Perrysburg
- Wadsworth
- Athens
- Zanesville
- Barberton
- Riverside
- Sandusky
- Willoughby
- Solon
- Maple Heights
- Hudson
- Trotwood
- Oxford
- Chillicothe
- Lebanon
- Alliance
- South Euclid
