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Small Business Loan Source is a business funding company in Columbus, Ohio helping entrepreneurs secure loans and financing to grow their operations.
Data compiled from public sources
Small Business Loan Source operates as a business funding staff context based in Columbus, Ohio, serving the central Ohio region with a focus on connecting small business owners with capital solutions. The company is positioned within the Business Funding Directory as a dedicated resource for entrepreneurs seeking funding options in the Columbus area.
The company's primary offering is business loan facilitation and funding services designed to help small business owners access the capital needed to start, expand, or sustain their operations. They market themselves as experts capable of helping businesses "secure the funds it needs to thrive," suggesting a consultative approach to matching borrowers with appropriate financing products.
What distinguishes Small Business Loan Source is its local presence in Columbus with a physical office location at 445 Hutchinson Ave, providing in-person accessibility to entrepreneurs in the central Ohio market. The company operates within a competitive Columbus business lending landscape, as evidenced by the presence of multiple similar lenders in their geographic area. They maintain a direct phone line (1-833-386-3783) for prospective borrowers seeking immediate information and guidance.
Limitations exist in assessing this company due to minimal publicly available information on the website beyond basic location and contact details. The listing does not specify particular loan types offered (SBA loans, merchant cash advances, equipment financing, lines of credit), loan amounts, interest rates, qualification criteria, or application processes. Without detailed service descriptions or customer information, it is difficult to fully evaluate their competitive positioning, specialization, or relative advantages over other Columbus-area business lenders.
This is state-level context for Business Loans consumers in Columbus, OH. It does not confirm that Small Business Loan Source or this specific location is licensed.
State regulator
Ohio Department of Commerce Division of Financial Institutions
Consumer protection
Status: Permitted
Rate context: 8% APR general usury cap applies unless exempt
Personal loans are regulated under Ohio's general usury laws. Lenders must be licensed by the Ohio Department of Commerce Division of Financial Institutions. The 8% usury cap applies to most personal loans unless specific exemptions apply (such as licensed credit unions or certain institutional lenders).
Status: Permitted
Rate context: 8% APR general usury cap applies unless exempt; consumer finance lenders may operate under different rate structures with proper licensing
Installment loans are permitted in Ohio and regulated by the Ohio Department of Commerce Division of Financial Institutions. Licensed consumer finance lenders may charge rates above the general usury cap under Ohio Rev. Code § 1321.01 et seq., provided they comply with licensing requirements and disclosure obligations.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Small Business Loan Source offers 6 services including Business funding consultation and advising, Small business loan sourcing and placement, Business capital access facilitation, Funding needs assessment for entrepreneurs, Local business lending guidance for Columbus area, and 1 more.
Small Business Loan Source has profile signals associated with Small business owners in the Columbus, Ohio area seeking local lending relationships, Entrepreneurs who prefer in-person consultations for business financing discussions, Business owners seeking personalized guidance on appropriate loan products for their needs.
Key strengths: Local physical office in Columbus, Ohio enables in-person consultations for business owners; Dedicated phone line (1-833-386-3783) for direct communication and inquiries; Established presence in Business Funding Directory suggests recognized status in lending industry. Areas to consider: Website provides minimal detail on specific loan products, terms, rates, or amounts offered; No information available on qualification requirements or eligibility criteria.
In the Business Loans category, comparable providers include 1st Security Financial Corporation, Community Capital Development Corporation, Finance Fund. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Small Business Loan Source is best suited for Columbus-area entrepreneurs seeking local, personable business lending support who prefer working with an office-based lending advisor rather than online-only platforms. However, prospective borrowers should contact the company directly to understand specific loan products, rates, and terms, as this information is not publicly disclosed on their listing.
1st Security Financial Corporation provides listed financial services for freight brokers, including BMC-85 trust fund management and BOC-3 compliance solutions since 2003.
Profile signals: Freight brokers needing BMC-85 trust fund compliance and management, Freight brokerage companies requiring BOC-3 filing assistance
Ohio-based certified SBA development company providing long-term, fixed-rate financing for small business capital expenditures since 1981.
Profile signals: Small business owners seeking to purchase equipment, real estate, or fund construction projects with long-term fixed-rate financing, Ohio-based entrepreneurs needing $50,000+ in capital with established business operations and collateral
Ohio-based CDFI providing flexible financing, grants, and real estate development to underserved communities and small businesses, with $64.7M in loans issued since 2006.
Profile signals: Small business owners in Ohio's low- and moderate-income communities unable to qualify for traditional bank financing, Nonprofit organizations and community development corporations seeking mission-aligned capital with technical support
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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