This article is written specifically for small business owners in Osceola, Arkansas who are interested in getting debt financing.
Local Osceola Business Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Osceola.
|Small Business Bank
||Recent SBA Loans
|American State Bank
|Union Planters Bank
Other Lending Resources for Osceola Businesses
This is a list of banks outside of Osceola, Arkansas that have provided SBA loans to Osceola businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Osceola
Before meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.
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 how you plan to pay the loan back to the bank.
Being able to present a well-written business plan is essential. If the loan 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, 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 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. Before meeting with the 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.
Gaebler.com Advice on Raising Money
If you are new to our Gaebler.com site, you should know that we are passionate about assisting entrepreneurs, and we have a
lot of resources related to to Raising
Money. For example, one article that might be of interest to you is Choosing VC Firms.
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