A full-service banking center with locations across Texas, Spirit of Texas Bank offers a comprehensive selection of loan, deposit, and online banking services. Spirit of Texas Bank has established itself as the top SBA lender in Texas and one of the top 10 in the United States.
Loans provided by the US Small Business Administration (SBA) help entrepreneurs and existing small business owners access the financing they need to grow their companies. Ideal for business owners who may not qualify for traditional loan products, SBA loans come with a partial guarantee to lenders if the borrower defaults on the loan. To qualify for an SBA loan, small business owners must apply with a bank or lending institution that participates in one or more SBA programs.
Common SBA programs include basic 7(a) loans, which connect business owners with financing to start and expand their businesses. Nonprofit organizations often participate in the microloan program, receiving loans up to $50,000 and using those funds to make smaller loans to eligible borrowers at the local level. Other SBA loan products include export working capital loans, disaster assistance loans, and pollution control loans.
The leading SBA lender in Texas and one of the highest rated in the U.S. as a whole, Spirit of Texas Bank provides a diverse array of banking services for small businesses. Spirit of Texas Bank helps small business clients open checking accounts, which represent a fundamental component of any business.
When it comes to choosing a business checking account, small business owners must decide whether to use the same bank for both their personal and their business accounts. Using the same bank streamlines financial management considerably, but it is not necessarily the best option in all cases. Small business owners often find that outside banks offer highly competitive fees and improved access to credit, which can have major financial implications.
Because one-size-fits-all checking accounts rarely meet the specific needs of a small business, small business owners should shop around to find an account with the proper offerings. If a company conducts the majority of its business via checks and electronic payments, for example, the owner should look for a premier checking account with a higher checking limit. In the same vein, small business owners should consider amenities such as online banking, electronic bill pay, and business debit cards.
The Spirit of Texas Bank recognizes that it is important for businesses to support local communities. Spirit of Texas Bank reaches out to do events and get involved in community and charity efforts, such as contributing to Houston Money Week.
Houston Money Week is a Houston-based financial initiative to inspire people to understand and use their finances better. It offers calculators, scholarships, contests, scavenger hunts, lectures, and classes. The event partners with and is hosted by businesses such as local banks and credit unions. For all seven days of the event, there are lectures on tax preparation, legal questions, financial recovery, and the fundamentals of maintaining good credit. For those making large purchases, such as buying a house or investing in land, there will be experts on-hand to answer questions. There are special offers for active military members and veterans, as well as special preparation lectures and events for children up to 12, including a job fair, food, and games.