This article is written specifically for entrepreneurs in Rison, Arkansas who are interested in getting a bank loan.
Local Rison Business Lenders
Without further adieu, here's our list of small business banks in Rison.
|Small Business Bank
|Recent SBA Loans
|Bank of Rison
|Fordyce Bank & Trust CO
Other Lending Resources for Rison Businesses
This is a list of banks outside of Rison, Arkansas that have provided SBA loans to Rison businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Rison
Prior 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 plan to pay the loan back to the bank.
A well-defined business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 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. Before meeting with the banker, 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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