We wrote this article for small business owners in White Hall, Arkansas who are interested in getting a small business loan.
Local White Hall Business Loan Sources
Without further adieu, here's our list of small business banks in White Hall.
|Small Business Bank
||Recent SBA Loans
|Bank of Star City
|Pine Bluff National Bank - Branch Banks- White Hall Branch
|Simmonsfirstnational Bank - Dollarway Branch
|Simmonsfirstnational Bank - White Hall Branch
|White Hall Financial Center Andtson CHPL Fnncl Center
Lenders for White Hall Businesses
This is a list of banks outside of White Hall, Arkansas that have provided SBA loans to White Hall businesses. Some of these may be national banks with local branch locations.
White Hall Business Loan Advice
Prior to reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.
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 essential. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 cash flow from the business does not meet your projections.
If the business has few assets, you will likely be asked to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 these banks 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
Gaebler.com is a site that is passionate about aiding entrepreneurs, and we have a
lot of useful articles about to Raising
Money. To learn more, we would suggest you read Business Line of Credit.
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