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

Horseshoe Bend, Arkansas Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Horseshoe Bend, Arkansas small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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
Bancorpsouth  
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.

Small Business Bank Recent SBA Loans
First National Banking Company
Ash Flat, AR
1

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 504 Loans.

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