This article is written specifically for small business owners in Earle, Arkansas who are interested in getting debt financing.
Local Earle Lenders
To assist you in finding a small business banker, here's our list of small business banks in Earle.
|Small Business Bank
||Recent SBA Loans
|Union Planters Bank
Lenders for Earle Businesses
This is a list of banks outside of Earle, Arkansas that have provided SBA loans to Earle businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Earle
Prior to meeting with banks to discuss getting a bank 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the money is to for an existing business, 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 you cannot repay the loan.
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. 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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