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August 5, 2021  
 
 
  Business Loan Information  
 

Business Loan Wilmar, Arkansas

 
Loan Census SBA Loan Info

Getting a business loan in Wilmar, Arkansas seems challenging at first, but we're here to help you get started.

This article is written specifically for small business proprietors in Wilmar, Arkansas who are interested in getting a small business loan.

Local Wilmar Business Lenders

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

Small Business Bank Recent SBA Loans
Union Bank - Wilmar Office  

Other Lending Resources for Wilmar Businesses

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

Small Business Bank Recent SBA Loans
Ecd Investments Bidco Corp
Monroe, LA
1

Tips for Getting a Business Loan in Wilmar

Prior to meeting with lenders to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money 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 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 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 the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to do your homework 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Attracting Investors.

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