Chidester, Arkansas Business Loan

Local Chidester Banks

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

Other Lending Resources for Chidester Businesses

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

Chidester Business Loan Advice

Prior to reaching out to banks for a 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the capital 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan 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 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

Our Gaebler.com site is devoted to assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read 504 Loans.