SBA Loans Explained


Spirit of Texas Bank SBA Lender pic
Spirit of Texas Bank SBA Lender

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.


What is Houston Money Week?

Houston Money Week pic
Houston Money Week

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.