Loan Census Banking News and Information
May 22, 2024  
  Business Loan Information  

Malvern, Arkansas Small Business Loans

Loan Census SBA Loan Info

Small business loans in Malvern, Arkansas are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Malvern, Arkansas, we've assembled a list of local small business banks that you should contact.

Local Malvern Banks

Without further adieu, here's our list of small business banks in Malvern.

Small Business Bank Recent SBA Loans
Diamond Lakes Federal Credit Union  
Elk Horn Bank & Trust CO  
Southern State Bank 1
Summit Bank 4
The Malvern National Bank 5
U S Bank - Malvern Ash Street Office- Branch Offices- Malvern  
U.S. Bank National Association 1

Business Loan Providers for Malvern Businesses

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

Small Business Bank Recent SBA Loans
Arvest Bank
Bryant, AR
Cit Small Business Lending Corp
Livingston, NJ
Citicapital Small Business Finance
Irving, TX
Metropolitan National Bank
Little Rock, AR
U.S. Bank National Association
Cincinnati, OH

Malvern Bank Loan Tips

Before contacting lenders to get 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Having a business plan is essential. If the money is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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, you will likely be asked to secure the business with your personal assets, such as the equity in your home. The banks will check on your personal credit history 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 you sit down to talk with a small business banker, you may want to do your homework 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. Advice on Raising Money

Make the effort and learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

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