If you are hoping to get a small business loan and your business is based in Bearden, Arkansas, we've put together a list of local small business banks that you should contact.
Local Bearden Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Bearden.
|Small Business Bank
||Recent SBA Loans
|Bank of Bearden
Banks that Lend to Bearden Businesses
This is a list of banks outside of Bearden, Arkansas that have provided SBA loans to Bearden businesses. Some of these may be national banks with local branch locations.
Bearden Bank Loan Tips
Prior to contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.
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 how you plan to pay the loan back to the bank.
Having a business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to secure 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. Prior to visiting local banks, 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.
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