Loan Census Banking News and Information
June 29, 2022  
  Business Loan Information  

Small Business Lenders in Trumann, Arkansas

Loan Census SBA Loan Info

Raising money in Trumann, Arkansas? If so, you'll want to talk to some of these small business lenders in Trumann.

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

Local Trumann Banks

To assist you in finding a small business banker, here's our list of small business banks in Trumann.

Small Business Bank Recent SBA Loans
Bank of Trumann  
First Delta Bank  
Regions Bank  
Unico Bank  

Other Lending Resources for Trumann Businesses

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

Small Business Bank Recent SBA Loans
Arkansas Capital Corporation
Little Rock, AR
Capital One
Mclean, VA
Heritage Bank
Jonesboro, AR
Liberty Bank Of Arkansas
Jonesboro, AR
Simmons 1st Bank - Jonesboro
Jonesboro, AR

Business Loan Advice for Trumann Businesses

Before meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. If the capital is to for a going concern, 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, the bank may ask you to to secure the business 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 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. Advice on Raising Money is a site that is passionate about assisting small business owners, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Bank Credit Lines.

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