The Spirit of Texas Bank is recognized as one of the top 10 SBA lenders in the country. Spirit of Texas Bank serves the citizens of Texas with full-service banks in multiple locations and offers loans, deposits/withdrawals, and competitive rates for your personal or business needs.
SBA stands for Small Business Administration, and it often refers to 7(A) loans, which are the SBA’s main program for helping small start-ups and existing businesses with their financing. The SBA does not directly loan money to companies, but instead guarantees loans from qualified and participating institutions, such as Spirit of Texas Bank.
Another type of SBA loan is a Certified Development Company or 504 loan. These are administered by nonprofit corporations that assist the economic development of their immediate communities, and these corporations are located nationwide. They operate on a state-to-state business. These loans assist growing businesses with long-term financing and security for their fixed assets.