Loan Census Banking News and Information
February 20, 2024  
  Business Loan Information  

Mayflower, Arkansas Small Business Loans

Loan Census SBA Loan Info

Raising money in Mayflower, Arkansas? If so, you'll want to talk to some of these small business lenders in Mayflower.

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

Local Mayflower Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Mayflower.

Small Business Bank Recent SBA Loans
First State Bank - Branch Banks- Mayflower Branch  

SBA Lenders for Mayflower Businesses

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

Small Business Bank Recent SBA Loans
Bank Of The Ozarks
Conway, AR
Capital One
Mclean, VA
First State Bank
Conway, AR
Innovative Bank
Oakland, CA
Metropolitan National Bank
Little Rock, AR
Twin City Bank
Little Rock, AR
U.S. Bank National Association
Cincinnati, OH

Mayflower Bank Loan Tips

Prior to meeting with banks for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

A well-defined business plan is is critically important. If the capital 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 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 stocks and bonds that you might own or life insurance policies. 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 the banks in our list are SBA lenders. 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. Advice on Raising Money

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Business Line of Credit.

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