Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Greers Ferry, Arkansas Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Greers Ferry, Arkansas? If so, you'll want to talk to some of these small business lenders in Greers Ferry.

If you are planning on applying for a small business loan and your business is based in Greers Ferry, Arkansas, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Greers Ferry Businesses

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

Small Business Bank Recent SBA Loans
Arkansas Capital Corporation
Little Rock, AR
1
Capital One
Mclean, VA
2
First Western Sblc, Inc
Dallas, TX
1
Metropolitan National Bank
Little Rock, AR
1
Ups Capital Business Credit
Windsor, CT
1

Greers Ferry Bank Loan Tips

As a prerequisite to meeting with lenders to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 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 pledge your personal assets, such as your individual retirement account or pension plan. 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 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

Gaebler.com is a site that is deeply committed to supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we recommend you read 504 Loans.

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