If you are looking for a small business loan and your business is based in Eureka Springs, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Eureka Springs Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Eureka Springs.
|Small Business Bank
||Recent SBA Loans
|Bank Of Eureka Springs
|Community First Bank
|First National Bank of Berryville
|Holiday Island Financial Center
|Sterne Agee Financial Services
SBA Lenders for Eureka Springs Businesses
This is a list of banks outside of Eureka Springs, Arkansas that have provided SBA loans to Eureka Springs businesses. Some of these may be national banks with local branch locations.
Eureka Springs Bank Loan Tips
Before 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 intend to to pay the loan back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the loan 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 guarantee 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 secure the business 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 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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