Spirit of Texas Bank is a community bank that offers small business loans that help to encourage economic expansion and employment opportunities. Spirit of Texas Bank is one of the top 10 small business loan lenders in the United States.
Representing more than 98 percent of Texas businesses, small businesses are thriving in the state, according to a report put out by the US Small Business Administration Office of Advocacy. In 2014, community banks made 421,254 loans of less than $100,000 each to small businesses. In 2013, small businesses created 152,231 jobs.
Small businesses employed 45.6 percent of the private workforce in Texas in 2013. The largest segments of Texas’ small businesses are in the health care and social services industries. The professional, scientific, and technical services subsets have the most employees. In 2013, small businesses in Texas employed 4.4 million people.
Minority-owned small businesses increased by 48 percent from 2007 to 2012.
Spirit of Texas Bank is a community bank that focuses on customer care. It has 14 locations, including its newest location, serving Colleyville and Grapevine in the Dallas-Ft. Worth metroplex.
Community banks promote growth in the local economy by sponsoring small business loans, farming loans, and family loans. Where a large bank might have corporate offices in one state and offer services in another, a community bank has officers in the local branch to meet the requests of its clientele. Community banks are more likely to look at the person, their character, and their circumstances when a loan application is received, whereas larger banks often make lending decisions based primarily on credit scores.
Small businesses are the major source of employment, contributing 55 percent of all jobs to the workforce. Since 1990, big business has lost 4 million jobs while small businesses gained 8 million.
Community banks are small businesses themselves, so they understand the financial needs of the small business owner. Spirit of Texas Bank is invested in the community, offering small business loans to build the local economy and encourage growth and expansion.
The Spirit of Texas Bank provides its clients with a wide array of personal and business banking services. It is also affiliated with the Texas Bankers Association (TBA), a group which represents 85% of all banks in the state of Texas. As a member, the Spirit of Texas Bank supports TBA’s goal to promote financial education.
TBA conducts a series of programs and events to achieve this goal, one of which is the Senior Lender Forum. This event is created to provide senior lenders a venue where they can exchange information, insights, and strategies relating to the business of lending. During the forum, participants are also encouraged to raise important issues that can affect their banking institutions. An atmosphere of partnership and cooperation will be established among all non-competing participants of the event.
The Senior Lender Forum will be held on December 1, 2016, at the Texas Bankers Association office in Austin. Mr. Clarence Pail Sims, President of Guided Solutions, will be leading the forum.
A leading loan firm and provider of a full array of financial services, Spirit of Texas Bank operates with the philosophy of Texans Helping Texans. Spirit of Texas Bank also maintains membership with the Texas Bankers Association (TBA), which offers a wide assortment of educational opportunities for members and industry players. Upcoming webinars include one called the Assessing Diversity Policies & Practices: Final Interagency Statement.
The webinar addresses the series of new advisory standards outlining a range of activities and programs that became effective in 2015. According to the new standards, banks may participate in voluntary self-assessments to demonstrate their commitment to compliance and improve their standing the public and Federal Reserves. Information presented during the webinar will include an outline of the standards and offer guidance on how to satisfy new expectations regarding entering into procurement relationships with businesses owned by women and minorities. In addition, participants may receive two continuing education credits for the Texas Board of Public Accountability, the HR Certification Institute, and the Society for Human Resource Management, respectively.
Registration fees for the webinar vary according to membership with the TBA and webinar format. Participants may choose between two formats: live and on-demand. On-demand registration allows access to the recorded webinar and related materials for six months.
From its headquarters in College Station, Spirit of Texas Bank provides a variety of lending and banking services for consumer and commercial clients. Additionally, Spirit of Texas Bank remains actively involved in community efforts through its partnership with the Business and Community Lenders of Texas (BCL of Texas), a nonprofit economic development organization. Educational services offered by BCL of Texas include the Realizing the American Dream course.
Designed to equip homeowners with the necessary knowledge to become confident and educated home buyers, Realizing the American Dream covers an assortment of topics related to mortgage and homeownership. Participants will receive guidance from a team of skilled homeownership professionals and receive instruction on purchase contracts, budgeting, and mortgage pre-qualifications. Additionally, the course incorporates assistance with home maintenance and costs for loan closing and settlements.
Spirit of Texas Bank operates out of College Station and offers a wide assortment of financial services for commercial and consumer banking. A company with a history of community involvement, Spirit of Texas Bank partners with the Business and Community Lenders of Texas (BCL of Texas) to educate consumers on mortgage and lending. Additionally, BCL of Texas supports local entrepreneurs through the Keep Austin Funded and Keep Dallas Funded series of programs.
Keep Austin Funded and Keep Dallas Funded provide local entrepreneurs with access to the necessary tools, knowledge, and capital for success as well as an easy-to-use crowdfunding platform. The programs’ team of crowdfunding specialists offer one-on-one coaching, assisting entrepreneurs in navigating the crowdfunding process, such as determining project costs and creating feasible business models. Entrepreneurs also receive guidance on how to leverage local resources to reach fundraising goals and how to curate and manage their project through Indiegogo, a leading crowdfunding platform.
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.