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Find An SBA Loan Consultant to Support Your Business

January 14, 2024

Running a small business involves time, energy, and reliable funding for your business to succeed. Applying for a business loan can be challenging because of the extensive research, financial reporting, and paperwork involved, especially for SBA loans.

Learn why your small business should consider partnering with Texas Gulf Bank’s SBA loan consultant to guide you through each phase of the SBA loan application process. Also, discover why so many small business owners across the Texas Gulf Coast region trust our bank for their SBA loan needs.

Why Choose SBA Loans to Support Your Small Business?

The Small Business Administration (SBA) is a federal agency dedicated to supporting small business growth and economic development by guaranteeing a certain percentage of the business loan amount to qualifying businesses.

SBA loans are a popular choice for small businesses since loan funds can be used for a wide variety of business expenses and purchases, including:

  • Commercial real estate
  • Construction or renovation costs
  • Tools and equipment
  • Business inventory
  • Working capital expenses
  • Property expansion

For many small businesses in Texas, SBA loans are an ideal financing option to cover short or long-term funding needs.

What Makes SBA Loans Different than Conventional Loans?

SBA loans differ from conventional business bank loans in a variety of ways, including the loan application process, loan terms, and SBA loan programs. Before applying, potential SBA borrowers must meet a set of qualifying business requirements, including:

  • Meet SBA size standards for small businesses
  • Be a for-profit business
  • Have a physical location and business operation within the United States
  • Ensure creditworthiness for loan repayment
  • Exhaust all other financing options

Qualifying businesses may find the SBA loan application process difficult to navigate on their own, especially if you are new to SBA financing or need to spend time focusing on running the business. Working with an SBA loan consultant eases the process to help ensure your business gets the funding needed for success.

The Benefits of Using an SBA Loan Consultant

An SBA loan consultant can offer the extensive experience and in-depth financing insight needed to navigate the entire application process successfully. SBA consultants can specifically assist with several major components of the loan process, including the following.

Choosing The Right SBA Loan

Businesses are able to choose from two types of SBA loans – an SBA 7(a) loan and an SBA 504 loan – and each has different loan terms and specific uses for approved funds.

– SBA 7(a) loans are popular for many businesses. This loan option offers a wider range of uses for loans, such as buying, refinancing, or improving commercial real estate, funding working capital needs, or acquiring inventory and equipment.

– SBA 504 loans are intended solely for acquiring major fixed assets such as commercial land, buildings and facilities, or heavy machinery.

An SBA loan specialist can help you identify which SBA loan would best support your business and potentially allow you to achieve your immediate and long-term business goals. 

Finding a Certified Development Company for SBA 504 Loans

An SBA 504 loan has a more complex loan structure than an SBA 7(a) loan, making the help of an SBA loan consultant even more valuable.

SBA 504 loans are available only through Certified Development Companies (CDCs), which are certified and regulated SBA partners that help promote economic development within communities.

A consultant can help determine if your business qualifies for SBA 504 financing, and assist with finding the ideal CDC partner in your area to assist with business funding needs. 

Preparing and Submitting Documentation

One of the most important benefits you gain from partnering with an experienced SBA loan consultant is having access to expert guidance. A consultant can help with preparing the required financial, legal, and business documentation for your SBA loan.

Your company needs to meet lender SBA loan-specific qualifications and will be required to submit documentation including, but not limited to:

  • Completed SBA loan application
  • Detailed business plan
  • Three years of business income statements and balance sheets
  • Three years of business and personal tax returns
  • Projected financial statements
  • Specific uses for loan funds, including costs for land, construction, or purchases
  • Current debt schedules

SBA loan consultants help provide a smooth and seamless SBA loan application process so you can focus your resources on growing your business. 

Contact Us Today to Discuss Your SBA Loan Needs

With over 110 years of banking experience serving businesses across the Southeast Texas Gulf Coast, our bank is uniquely positioned to help your company grow.

Our dedicated SBA loan consultant Dennis David has assisted countless small business owners through the entire SBA loan process to secure financing and support growth initiatives.

Contact our office at 800-467-7216 to schedule a consultation with Dennis about SBA loans. Or, complete our contact form to get started today. We look forward to working with your business.

All loans subject to credit approval.

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All Loans Subject to Credit Approval