If you are hoping to get a small business loan and your business is based in Ozark, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Ozark Business Loan Sources
Without further adieu, here's our list of small business banks in Ozark.
|Small Business Bank
||Recent SBA Loans
|Allied Bank of Ozark
|Bank of America
|Bank Of The Ozarks
|Simmons First National Bank
SBA Lenders for Ozark Businesses
This is a list of banks outside of Ozark, Arkansas that have provided SBA loans to Ozark businesses. Some of these may be national banks with local branch locations.
Ozark Bank Loan Tips
Prior to meeting with banks for a 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 how you intend to to pay the loan back to the bank.
Having a business plan is essential. If the bank loan 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 to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 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.
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