Loan Census Banking News and Information
April 15, 2021  
 
 
  Business Loan Information  
 

Strong, Arkansas Small Business Loans

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Strong, Arkansas, we've put together a list of local small business banks that you should contact.

Local Strong Business Loan Sources

Without further adieu, here's our list of small business banks in Strong.

Small Business Bank Recent SBA Loans
Simmons First Bank of El Dorado  

Business Loan Providers for Strong Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

Strong Bank Loan Tips

As a prerequisite to reaching out to banks for a 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.

Being able to present a well-written business plan is an important prerequisite. 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 secure the business 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 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 all about helping small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read 504 Loans.

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