If you are hoping to get a small business loan and your business is based in Harrisburg, Arkansas, we've put together a list of local small business banks that you should contact.
Local Harrisburg Business Loan Sources
Without further adieu, here's our list of small business banks in Harrisburg.
Lenders for Harrisburg Businesses
This is a list of banks outside of Harrisburg, Arkansas that have provided SBA loans to Harrisburg businesses. Some of these may be national banks with local branch locations.
Harrisburg Bank Loan Tips
Prior to contacting banks to get 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 your ability to pay the loan back to the bank.
A well-defined business plan is is critically important. If the money is to for an existing 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 pledge your personal assets, such as the equity in your home. 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. Before meeting with the banker, 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
Getting a Small Business Loan.
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