Loan Census Banking News and Information
August 4, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Belleville, Arkansas

 
Loan Census SBA Loan Info

Small business loans in Belleville, Arkansas are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Belleville, Arkansas, we've put together a list of local small business banks that you should contact.

Other Lending Resources for Belleville Businesses

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

Small Business Bank Recent SBA Loans
First Financial Bank
Mena, AR
1

Business Loan Advice for Belleville Businesses

As a prerequisite to contacting banks to discuss getting 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the capital 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to get up to speed 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Bank Credit Lines.

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