This article is written specifically for small business owners in Star City, Arkansas who are interested in getting a bank loan.
Local Star City Lenders
To assist you in finding a small business banker, here's our list of small business banks in Star City.
|Small Business Bank
||Recent SBA Loans
|Bank Of Star City
|Pine Bluff National Bank
|Simmons First National Bank
Lenders for Star City Businesses
This is a list of banks outside of Star City, Arkansas that have provided SBA loans to Star City businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Star City
Before reaching out to lenders 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, define how the money will be used, and show how you plan to pay the loan back to the lender.
Being able to present a well-written business plan is is critically important. If the bank 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 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 get up to speed 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 new to our Gaebler.com site, you should know that we are devoted to supporting small business owners, and we have a
lot of useful articles about to Raising
Money. For example, we would suggest you read How Equity Dilution Works.
More Business Lender Lists for Arkansas Cities
Get a Business Loan in Springdale
Get a Business Loan in Stuttgart
Browse All Business Loan Sources for Arkansas