Loan Census Banking News and Information
November 30, 2023  
  Business Loan Information  

Hensley, Arkansas Small Business Loans

Loan Census SBA Loan Info

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

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

Local Hensley Business Loan Sources

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

Small Business Bank Recent SBA Loans
Metropolitan National Bank - Branch & Banks- East End Branch  

Business Loan Providers for Hensley Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Heartland Community Bank
Bryant, AR
Metropolitan National Bank
Little Rock, AR
Pulaski Bank & Trust Company
Little Rock, AR

Hensley Bank Loan Tips

Before meeting with lenders to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the lender.

A well-defined business plan is an important prerequisite. If the financing is to for a going concern, 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 you cannot repay the loan.

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 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. Before meeting with the banker, 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. Advice on Raising Money is a site that is passionate about providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

More Business Loan Info for Arkansas
Get a Business Loan in Helena
Get a Business Loan in Hope

Browse All Business Loan Sources for Arkansas