Business Loan Heber Springs, Arkansas

Local Heber Springs Banks

Without further adieu, here's our list of small business banks in Heber Springs.

Banks that Lend to Heber Springs Businesses

This is a list of banks outside of Heber Springs, Arkansas that have provided SBA loans to Heber Springs businesses. Some of these may be national banks with local branch locations.

Tips for Getting a Business Loan in Heber Springs

Prior to meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list are SBA lenders. Before meeting with the banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

Our Gaebler.com site is dedicated to supporting small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.