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.
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.
Gaebler.com Advice on Raising Money
Gaebler.com 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