Loan Census Banking News and Information
February 20, 2024  
  Business Loan Information  

Pocahontas, Arkansas Small Business Loans

Loan Census SBA Loan Info

I need a loan for my business in Pocahontas, Arkansas! If that's what's on your mind, you've come to the right place.

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 - 1
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.

Small Business Bank Recent SBA Loans
Arkansas Capital Corporation
Little Rock, AR
Bank Of America
Charlotte, NC
Business Loan Center, LLC
New York, NY
Capital One
Mclean, VA
Pinnacle Bank
Rogers, AR

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. 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 Business Credit Evaluation.

More Business Loan Info for Arkansas
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