Loan Census Banking News and Information
April 21, 2021  
 
 
  Business Loan Information  
 

Higden, Arkansas Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Higden, Arkansas! If that's what's on your mind, you've come to the right place.

We wrote this article for small business owners in Higden, Arkansas who are interested in getting debt financing.

Local Higden Lenders

To assist you in finding a small business banker, here's our list of small business banks in Higden.

Small Business Bank Recent SBA Loans
Greers Ferry Lake State Bank  
Heber Springs State Bank  
U S Bank - Branch Office- Greers Ferry Offices  

Banks that Lend to Higden Businesses

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

Small Business Bank Recent SBA Loans
Heber Springs State Bank
Heber Springs, AR
1
U.S. Bank National Association
Cincinnati, OH
1

Higden Business Loan Advice

As a prerequisite to contacting banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the financing is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with 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 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Bank Credit Lines.

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