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Governor's Small Business Resource Portal
Whether you are an aspiring entrepreneur or an established business owner, the portal will provide you with the most relevant resources and contacts to help you find success. This important tool offers a customized list of useful business resources to assist in starting or growing a business in Texas. Click here to launch the portal.
Trinity Valley SBDC
Trinity Valley SBDC provides no cost business consulting to entrepreneurs and established businesses. Trinity Valley SBDC is a field center of the North Texas Small Business Development Center Network and is funded by the SBA, state of Texas, and host Trinity Valley Community College. Business advisors can assist with a variety of areas, including but not limited to research, business plan development, social media training, loan structuring, and financial analysis. Trinity Valley SBDC maintains relationships with lenders for both general commercial loans, as well as SBA loans.
The Small Business Development Center Director, Jennifer Johnston, can assist you with loan structures and finding bank financing for your loan. We work with a number of lenders, ie. local banks, CDC, CDFI’s on various loan programs: SBA 7a Loan, 504 Loan, Veteran Loan, Export Loans, Woman-owned business loans, Community Advantage Loans. Jennifer can be reached at 903-675-7403 and email jennifer.johnston@tvcc.edu.
Common SBA Loans Include 7A Loans and 504 Loans
Standard 7A loans are guaranteed by the SBA as high as 85% for loans up to $150,000 and 75% for loans over $150,000. The maximum amount for a standard 7a loan is $5 million. There is a minimum down payment requirement.
504 Loans provide long term financing for the purchase of fixed assets, which could include buildings, land, construction of new buildings or modernizing existing facilities, long-term machinery, and refinancing debt with an expansion of the business through new or renovated facilities or equipment, and are made available through Certified Development Corporations. The borrower is typically required to inject 10% to 20% into the project, with the CDC covering 40% of the project and the lender covering 50% of the project. Loans are generally capped at $5 million. These loans are usually at very attractive interest rates.
Local banks offering Small Business Administration loans:
Austin Bank, Christy King, phone 903-373-0058, fax 903-723-3509, email cking@austinbank.com
Austin Bank, Jana Adams, phone 903-723-7222, fax 903-723-3509, email janaladams@austinbank.com
Commercial Bank of Texas, Jessica Jones, cell 936-645-0870, fax 903-764-5925, and email jjones@cbtx.com
Southside Bank, Glenda Morris, phone 903-723-0385, fax 903-723-2422, email glenda.morris@southside.com
Vera Bank, John Moore, 903-729-6048 X7515, fax 903-729-1141, email jmoore@verabank.com