Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Business Loan Hampton, Arkansas

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Hampton, Arkansas who are interested in getting debt financing.

Local Hampton Business Loan Sources

Without further adieu, here's our list of small business banks in Hampton.

Small Business Bank Recent SBA Loans
Calhoun County Bank  

Lenders for Hampton Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

Tips for Getting a Business Loan in Hampton

Before 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money is to for a going concern, 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 your individual retirement account or pension plan. 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 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read How Equity Dilution Works.

More Business Loan Info for Arkansas
Get a Business Loan in Greenwood
Get a Business Loan in Harrison

Browse All Business Loan Sources for Arkansas