Loan Census Banking News and Information
April 21, 2021  
 
 
  Business Loan Information  
 

Scott, Arkansas Business Loan

 
Loan Census SBA Loan Info

Looking for a Scott, Arkansas small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business owners in Scott, Arkansas who are interested in getting a bank loan.

Banks that Lend to Scott Businesses

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

Small Business Bank Recent SBA Loans
Metropolitan National Bank
Little Rock, AR
1
Twin City Bank
North Little Rock, AR
1

Scott Business Loan Advice

Before contacting banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, you will likely be asked to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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.

Gaebler.com Advice on Raising Money

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Choosing VC Firms.

Business Loan Sources for Other Cities in Arkansas
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