If you are looking for a small business loan and your business is based in Vilonia, Arkansas, we've assembled a list of local small business banks that you should contact.
Local Vilonia Banks
To help you learn more about local small business lenders, here's our list of small business banks in Vilonia.
|Small Business Bank
|Recent SBA Loans
|First State Bank - Vilonia
|Firstsecurity Bank - Vilonia
|Regions Bank - Vilonia
|Vilonia Banking Center
Business Loan Providers for Vilonia Businesses
This is a list of banks outside of Vilonia, Arkansas that have provided SBA loans to Vilonia businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Vilonia Businesses
Before meeting with banks for a 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, walk the banker through the planned use of proceeds, and show your ability 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 company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 cash flow from the business does not meet your projections.
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 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 are SBA lenders. Before you sit down to talk with a small business 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.
Gaebler.com Advice on Raising Money
If you are new to our Gaebler.com site, you should know that we are devoted to assisting entrepreneurs, and we have a
lot of resources related to to Raising
Money. To learn more, one article that might be of interest to you is SBIR Funding.
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