Loan Census Banking News and Information
December 5, 2023  
  Business Loan Information  

De Witt, Arkansas Small Business Loans

Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in De Witt, Arkansas, we've assembled a list of local small business banks that you should contact.

Local De Witt Banks

To help you learn more about local small business lenders, here's our list of small business banks in De Witt.

Small Business Bank Recent SBA Loans
Dewitt Bank & Trust CO  
First National Bank of de Witt  
Time and Temp Service Dewitt Bank & Trust  

SBA Lenders for De Witt Businesses

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

Small Business Bank Recent SBA Loans
Innovative Bank
Oakland, CA

De Witt Bank Loan Tips

As a prerequisite to reaching out to 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the capital 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 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 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 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. Advice on Raising Money

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Only Idiots Send Venture Capitalists Business Plans.

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