Loan Census Banking News and Information
August 5, 2021  
 
 
  Business Loan Information  
 

Foreman, Arkansas Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Foreman, Arkansas seems challenging at first, but we're here to help you get started.

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

Local Foreman Business Lenders

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

Small Business Bank Recent SBA Loans
First National Bank - Foreman Branch  
Regions Bank - Arkansas Banking Locations- Foreman  

Lenders for Foreman Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1

Foreman Bank Loan Tips

Prior to meeting with banks for a 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing 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 secure the business 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Incubators.

More Business Loan Info for Arkansas
Get a Business Loan in Fayetteville
Get a Business Loan in Forrest City

Browse All Business Loan Sources for Arkansas