If you are looking for a small business loan and your business is based in Goshen, Arkansas, we've put together a list of local small business banks that you should contact.
Lenders for Goshen Businesses
This is a list of banks outside of Goshen, Arkansas that have provided SBA loans to Goshen businesses. Some of these may be national banks with local branch locations.
|Small Business Bank
||Recent SBA Loans
Goshen Bank Loan Tips
Before meeting with lenders 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, describe what the money will finance, and show your ability to pay the loan back to the lender.
Being able to present a well-written business plan is is critically important. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. 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.
Gaebler.com Advice on Raising Money
Our Gaebler.com site is dedicated to aiding small business owners, and we have a
lot of useful articles about to Raising
Money. For example, we would suggest you read Bank Credit Lines.
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