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.
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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