Small business lenders in Arkansas support the needs of companies looking to grow and compete.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Arkansas is known as The Natural State and, previously, The Land of Opportunity, is a beautiful place to call home with a thriving economy. With over 3 million people living here and Little Rock being the largest city, it has much to offer companies that open their doors in the state as well. Much of Arkansas has an industrial and commerce economy built on the agricultural sector. It is noted as the largest producer in the country of rice and turkeys, as well as a top producer of aquaculture and cotton. It also has a modern economy built on retail and restaurants, often with a strong influence of small business owners and entrepreneurs making it up.
The U.S. Small Business Administration states that there are 264,245 small businesses in Arkansas. Those businesses employ over 497,600 people, showcasing just how important the small business industry is to the families that live here. More so, the state’s small business payroll is over $18,473,000, providing a significant amount of financial compensation to residents.
When it comes to those companies, many of them turn to small business lenders in Arkansas to help support the growth of their companies. The Small Business Administration data shows that there are 896 small business loans currently in place in the state with a balance of $516,623,296. The average loan size is over $576,500, according to the most recent three years of data. Many small businesses use these loans to help them with upgrading and expanding. Some use them to buy new equipment, build up their inventory, and grow their marketing to bring in more customers.
Whether you seek out Arkansas small business loans, loan options from the federal government, funds from small business grants for nonprofits, business credit cards, or other financing options, these could help get your business off the ground. These will all have various repayment terms and requirements, so doing your research about business resources is powerful.
A small business loan is an opportunity for a business to borrow money to use for a variety of needs. Like most loans, the borrower agrees to repay the amount borrowed from the lender with interest. Lenders, which range from large organizations to small, private lenders, offer these funds to help support the growth of small businesses.
To do this, they have to carefully navigate risk and interest rates to ensure they do not lose money on the opportunity. In order to achieve success with small business financing for corporate or nonprofit organizations, you need a business plan. While the application process may be different from one kind of loan to another, starting a business or getting help with business expansion requires clarity on your offering and how you’ll use the loan.
For companies, small business loans in Arkansas are typically financially necessary tools to allow for business growth and development. Without this capital, companies would have to rely on their personal savings and the support of others. To help spur growth, consider the value of investing in these loans. Business funding is available from many sources and in many varieties, including money from local governments, financial institutions, and more.
To obtain an Arkansas small business loan, borrowers have to work closely with lenders to qualify. That often involves a formal application in which details such as the company’s creditworthiness, revenue, age, and industry play a role in the borrowing decision. Lenders need to be sure the borrower can make payments on time to protect their investment.
The amount a business can borrow is often dependent on the amount of revenue the company has on a consistent basis. Review a loan application before confirming whether or not you meet eligibility requirements.
There are a number of types of small business loans in Arkansas, which allows borrowers to find loan terms that fit their specific needs. The good news is this availability keeps costs in line with expectations while providing you with the type of value you desire. There are a variety of small business loans that you can expect to find in Arkansas, such as:
It is not common for a small business to qualify for all of these loan types. Yet, most lenders will work closely with the business to determine which loan type best fits their specific situation and need. The amount borrowed, as well as the term length, can be quite flexible in most cases. More so, borrowers can also count on finding flexibility with some lenders, with longer terms and lower rates to well-qualified borrowers.
Arkansas small business lenders hope to turn a profit, so they are willing to put the time and money into organizations that have proven revenue. Startups typically find fewer options available to them, though loans may be available.
| Rank | Bank Name | # of Arkansas Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Arvest Bank | 64 | 4.91% | 340638 |
| 2 | U.S. Bank | 26 | 6.73% | 45635 |
| 3 | First Financial Bank | 19 | 5.19% | 986500 |
| 4 | Southern Bancorp Bank | 19 | 4.95% | 1127016 |
| 5 | Bank OZK | 15 | 5.33% | 557420 |
| 6 | First Service Bank | 13 | 5.86% | 612592 |
| 7 | Cadence Bank | 8 | 5.31% | 242650 |
| 8 | Live Oak Bank | 8 | 5.03% | 1155788 |
| 9 | FNBC Bank | 7 | 5.46% | 31657 |
| 10 | CS Bank | 6 | 5.38% | 337933 |
Arvest Bank was started in 1961 when it was known as the Bank of Bentonville. Since that time, Arvest Bank now serves the people of Arkansas, Kansas, Oklahoma, and Missouri with a variety of banking and financial tools, including credit cards, home loans, and loans for personal and business needs.
We reached out to Arvest Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
First coming into existence in 1863 as the First National Bank of Cincinnati, U.S. Bank now operates in 26 states across the country. U.S. Bank offers a number of products and services to meet customers’ needs, including small business loans and personal banking solutions, including checking and savings.
We reached out to U.S. Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Opening as the Bank of Hamilton in 1863, the First Financial Bank has its roots in Hamilton, Ohio. Now with branches in Ohio, Kentucky, and Indiana, First Financial Bank is able to meet the needs of its customers with a number of personal and business services, including small business loans.
We reached out to First Financial Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Southern Bancorp was started 30 years ago with an initial investment of $10 million to now have over $2 billion in assets to meet customers’ needs. With locations in Arkansas, Tennessee, and Mississippi, Southern Bancorp can provide all types of business and personal banking services for its customers.
We reached out to Southern Bancorp to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Started in Jasper, Arkansas, in 1903 as Bank of Ozark, the Bank OZK has since moved into 8 total states with over 240 offices and $26 billion in assets to meet its customers’ needs. The Bank OZK offers many products to meet their financial goals, including small business loans.
We reached out to Bank OZK to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Every business owner can benefit from financial education and support from time to time. While Arkansas small business loans can provide the capital to make decisions and to fund expansion, it takes a solid education in business management and financial management to ensure the best possible outcome for those funds. The good news is there are numerous resources available to help you. That includes the Small Business Administration of Arkansas. There, you can find loan education tools, funding tools, tutorials, and tools for managing the formation and expansion of your company.
Another valuable resource that most small business owners can tap into is SCORE, an organization that provides incredible, free information for owners. This includes webinars, informative guides, and tools that help you with making wise financial decisions. The main office is in Northwest Arkansas, but SCORE is available to businesses throughout the state looking for financial support to grow. Remember, these are tools you can use when and how you want to without any cost to you. They can help you create the financial stability your company needs to thrive. The more tools you have the better prepared you will be to build and grow your small business.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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