If you are hoping to get a small business loan and your business is based in Pocahontas, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Pocahontas Lending Resources
To assist you in finding a small business banker, here's our list of small business banks in Pocahontas.
|Small Business Bank
||Recent SBA Loans
|1st National Bank
|American State Bank
|Bank - Pocahontas A Division -
|Bank of Pocahontas - East Pocahontas Branch
|Bank of Pocahontas - Main Bank
|Farmers & Merchants Bank
|First Community Bank
Other Lending Resources for Pocahontas Businesses
This is a list of banks outside of Pocahontas, Arkansas that have provided SBA loans to Pocahontas businesses. Some of these may be national banks with local branch locations.
Pocahontas Bank Loan Tips
Prior to meeting with lenders 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, describe what the money will finance, and show your ability to pay the loan back to the lender.
Having a business plan is is critically important. If the money is to for a company that is already doing 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 you cannot repay the loan.
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 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 these banks 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.
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