If you are hoping to get a small business loan and your business is based in Lexa, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Lexa Banks
To assist you in finding a small business banker, here's our list of small business banks in Lexa.
|Small Business Bank
||Recent SBA Loans
|First National Bank of Eastern Arkansas Barton
Lenders for Lexa Businesses
This is a list of banks outside of Lexa, Arkansas that have provided SBA loans to Lexa businesses. Some of these may be national banks with local branch locations.
Lexa Bank Loan Tips
Prior to meeting with banks to get a bank loan, you will need to develop the specifics of your loan request.
You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 your individual retirement account or pension plan. 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 are SBA lenders. Before meeting with the banker, 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
Gaebler.com is a site that is all about helping entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. For example, we would suggest you read How to Raise Money.
More Business Loan Info for Arkansas
Get a Business Loan in Jonesboro
Get a Business Loan in Little Rock
Browse All Business Loan Sources for Arkansas