If you are looking for a small business loan and your business is based in Clinton, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Clinton Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Clinton.
|Small Business Bank
||Recent SBA Loans
|Bank of the Ozarks
|First Security Bank
|First Service Bank
|Greers Ferry Lake State Bank
|Simmons First National Bank
Business Loan Providers for Clinton Businesses
This is a list of banks outside of Clinton, Arkansas that have provided SBA loans to Clinton businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Clinton Businesses
Before meeting with 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 intend to to pay the loan back to the bank.
Having a business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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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