Loan Census Banking News and Information
December 4, 2023  
  Business Loan Information  

Perryville, Arkansas Business Loan

Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Perryville, Arkansas who are interested in getting debt financing.

Local Perryville Banks

To assist you in finding a small business banker, here's our list of small business banks in Perryville.

Small Business Bank Recent SBA Loans
Chart Bank 6
Farm Credit Services  
US Bank - Branch Office- Perryville AR Office  

SBA Lenders for Perryville Businesses

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

Small Business Bank Recent SBA Loans
Cit Small Business Lending Corp
Livingston, NJ
Regions Bank
Atlanta, GA
U.S. Bank National Association
Cincinnati, OH

Perryville Business Loan Advice

As a prerequisite to contacting banks to discuss getting 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 how you intend to to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the capital 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge 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 the banks in our list are SBA lenders. 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. Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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