Did you know that Ohio is home to almost 1 million small businesses? If you’re the owner of a start-up or small business, you've likely faced many operational challenges in the last two years. Dogged by supply chain slowdowns, labor shortages, and shipping delays, many company owners had to find creative ways to meet customer needs, including business financing.

Fortunately, the Small Business Administration (SBA) continues to support entrepreneurs. Their mission has remained unchanged since 1933:

• To “aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise, and to maintain and strengthen the overall economy of our nation.”

As part of the SBA’s commitment to “help Americans start, build and grow businesses,” the organization created the SCORE program (Service Corps of Retired Executives). The non-profit group has more than 13,000 trained counselors who mentor entrepreneurs through the challenges of business ownership.

Banks in Ohio, including Consumers National Bank, an award-winning, SBA preferred lender, want you to know about SCORE's services for small and emerging business owners.

How the SCORE Program Can Help Your Small Business

The SCORE program provides various educational resources to start-ups and small companies.

• Find a mentor. SCORE connects you with experts in starting and owning a small business locally or through email, phone, or video calls. The confidential, free service gives you access to relevant advice and support.
• Attend a workshop or webinar. Do you need help crafting your business plan or marketing strategy? You can participate in free online webinars live or on-demand. SCORE also offers online courses that let you learn at your own pace.
• Check out the resource library. SCORE also helps you keep pace with the rapidly evolving market and consumer landscapes. You can use e-guides, videos, and templates to ensure you set your business up for success.
• Visit your local SCORE chapter. You'll find SCORE offices throughout Ohio, with the Canton office in Massillon. The chapters provide roundtable discussions and in-person workshops on wide-ranging topics that benefit entrepreneurs, such as:
  • Social Media Marketing
  • Creating a Business Plan
  • Key Financial Documents
  • How to Grow Your Sales

Connect with Consumers National Bank for SBA Business Lending to Grow Your Company

If discussions with your SCORE mentor or information from the SCORE program leads you to consider financing for your small business, reach out to Consumers National Bank for support.

SBA 7a loans offer start-ups and business owners several critical advantages over other types of financing. With an SBA loan, you'll have access to:

• Low-interest rates
• Favorable repayment terms
• Low down payments
• Funds for many uses such as launching or expanding your company, buying equipment, working capital, and purchasing inventory
• Financing that requires little or no collateral as security

SBA 504 loans offer below-market rates to invest in assets, including:

• Commercial real estate
• New builds or improvements to facilities
• Heavy machinery or equipment

Let's work together to make 2022 your most successful year yet! Connect with the Consumers National Bank team or visit one of our local branch offices.