This article is written specifically for small business owners in Plainview, Arkansas who are interested in getting debt financing.
Local Plainview Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Plainview.
|Small Business Bank
||Recent SBA Loans
|First State Bank
Business Loan Providers for Plainview Businesses
This is a list of banks outside of Plainview, Arkansas that have provided SBA loans to Plainview businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Plainview
As a prerequisite to reaching out to banks for a 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, describe what the money will finance, and show your ability to pay the loan back to the bank.
Being able to present a well-written business plan is is critically important. 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 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, you will likely be asked to to guarantee the loan 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to read up on 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 serious about Raising
Money, you need to learn as much as you can. If you haven't read it
already, we recommend you review
Getting a Small Business Loan.
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