Ohio

Business Loans in Ohio

Ohio businesses borrow from banks, credit unions, SBA lenders and non-bank lenders, and programs from the Ohio Department of Development and the Ohio Treasurer back some of those loans. Sagamore, a commercial loan broker, matches established Ohio businesses with lenders for lines of credit, term loans, SBA loans, equipment financing and invoice factoring.

Written by Jordan Levy, Founder & CEO · Last updated November 4, 2026

Apply Now — No Credit Impact Book a Free Consultation

State law

Does Ohio require business loan disclosures?

No. Ohio has no commercial financing disclosure law, and the federal Truth in Lending Act does not cover credit for business purposes. What you receive is the lender's offer and contract, so before you sign, get these in writing:

The total amount financed, and the amount you actually receive after fees or payoffs
The total you will repay
How much each payment is, how often it is due and how it is collected
Every fee, including origination, draw, late and returned-payment fees
What paying off early costs or saves
Any collateral, lien or personal guarantee the lender takes

At a glance

State disclosure law: None
Federal Truth in Lending Act: Consumer credit only
What governs the deal: Your contract

SBA

Where are the SBA offices in Ohio?

The SBA doesn't lend directly. Banks, credit unions and other SBA-approved lenders make 7(a) and 504 loans, and the SBA guarantees part of each one. District offices connect businesses with counseling, training and local lenders.

The SBA now runs one Ohio District Office for the whole state, with its main office in Columbus and locations in Cleveland, Cincinnati and Dayton.

How SBA loans work

4 locations

ColumbusOhio District Office, main office44 counties in central and southeast Ohio, including Franklin
ClevelandOhio District Office28 counties in northern Ohio, including Cuyahoga, Summit and Lucas; by appointment
CincinnatiOhio District Office10 counties in southwest Ohio, including Hamilton
DaytonOhio District Office9 counties around Dayton, including Montgomery; virtual office

State programs

What state loan programs does Ohio offer?

Most of Ohio's programs work through lenders: the state adds collateral, a participation or a lower cost to a loan you take from a bank, credit union or CDFI. The minority- and women-owned business loans are direct loans from the Department of Development.

These are state programs. Sagamore doesn't run them or decide who qualifies.

Buckeye Business AdvantageOhio TreasurerLowers the cost of loans up to $1 million from participating financial institutions, for Ohio-headquartered businesses with 150 or fewer employees. It replaced GrowNOW, which closed to new applications in April 2025.
Collateral Enhancement Program 2.0Ohio Department of Development (SSBCI)Pledges a cash collateral deposit to the lender to cover a collateral shortfall, for businesses with fewer than 250 employees and $20 million or less in revenue.
CDFI Loan Participation ProgramOhio Department of Development (SSBCI)Subordinated debt for Ohio small businesses through ECDI, Valley Partners, Western Reserve Community Fund and Freedom Equity.
Minority Business Direct LoanOhio Department of DevelopmentLoans of $45,000 to $1 million for fixed assets and real estate, for state-certified minority-owned businesses that are three years or older.
Women's Business Enterprise Loan ProgramOhio Department of DevelopmentLoans to grow existing women-owned businesses.
Regional 166 Direct LoanOhio Department of DevelopmentFunds up to 40 percent of a fixed-asset project, up to $1 million, through seven regional administrators. Retail projects and refinancing are not eligible.

Industries

Which Ohio industries do we work with?

Ohio has 1.1 million small businesses, 99.6% of all businesses in the state, according to the SBA Office of Advocacy's 2025 profile. We work with established businesses in every industry; these are the ones that stand out in Ohio.

Eligibility

What do you need to qualify for a business loan in Ohio?

The same as in every other state. Sagamore is a broker, not a lender: one application is matched with lenders across all 50 states, and every program starts from the same minimums. We work with established businesses only, so startups are not eligible.

Credit score: 600+
Time in business: 1+ year
Annual revenue: $400K+

Start Application Ask a Question

Frequently Asked Questions

Common questions about business loans in Ohio

Yes. The Ohio Department of Development's Women's Business Enterprise Loan Program lends to existing women-owned businesses to help them grow. Its collateral and participation programs, and the Treasurer's Buckeye Business Advantage, are open to any eligible small business.

Yes. The Minority Business Direct Loan offers $45,000 to $1 million for fixed assets and real estate to minority-owned businesses that are at least three years old and hold the state's MBE certification.

Buckeye Business Advantage. The Ohio Treasurer stopped taking GrowNOW applications on April 1, 2025. The new program lowers the cost of loans up to $1 million through participating lenders for Ohio-headquartered businesses with 150 or fewer employees.

At 1350 Euclid Avenue, by appointment. It is a location of the SBA Ohio District Office, which serves the whole state from Columbus and also has offices in Cincinnati and Dayton.

Sources

Where do these facts come from?

Each fact on this page was checked against the agency or legislature that publishes it. Programs and offices change, so confirm the details with the source before you rely on them.