If you are looking for a small business loan and your business is based in Horseshoe Bend, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Horseshoe Bend Lending Resources
To assist you in finding a small business banker, here's our list of small business banks in Horseshoe Bend.
|Small Business Bank
||Recent SBA Loans
|First National Bank of Sharp County
Other Lending Resources for Horseshoe Bend Businesses
This is a list of banks outside of Horseshoe Bend, Arkansas that have provided SBA loans to Horseshoe Bend businesses. Some of these may be national banks with local branch locations.
Horseshoe Bend Bank Loan Tips
Before reaching out to banks to discuss getting a bank loan, you will need to have a specific plan.
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 bank.
Having a business plan is essential. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to to secure the business 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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
If you are planning on Raising
Money, you need to learn as much as you can. If you haven't read it
already, we recommend you review
Business Loan Sources for Other Cities in Arkansas
Get a Business Loan in Hope
Get a Business Loan in Hot Springs
Browse All Business Loan Sources for Arkansas