Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Danville, Arkansas Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Danville, Arkansas small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are hoping to get a small business loan and your business is based in Danville, Arkansas, we've assembled a list of local small business banks that you should contact.

Local Danville Business Loan Sources

To assist you in finding a small business banker, here's our list of small business banks in Danville.

Small Business Bank Recent SBA Loans
Bank of Dardanelle  
Chambers Bank 1

SBA Lenders for Danville Businesses

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

Small Business Bank Recent SBA Loans
First St. Bank Corp
Russellville, AR
1

Danville Bank Loan Tips

Before contacting lenders to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the money back to the lender.

Having a 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. Bankers will also want to know 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, you will likely be asked to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 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.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Angel Investors.

Business Loan Sources for Other Cities in Arkansas
Get a Business Loan in Crossett
Get a Business Loan in De Queen

Browse All Business Loan Sources for Arkansas