business banking

SBA Loans (Small Business Administration)

As a preferred SBA Lender, Independent Bank of Texas provides our business customers with better and faster financing options that are focused on helping your company realize its vision.

Designed with small businesses in mind, SBA Loans are guaranteed by the Small Business Administration and offer very favorable terms and conditions not found in typical loans. SBA Loans feature lower down payments, traditionally low rates that stay low through the life of the loan, and can be spread out over longer periods.

SBA 7(a) Financing - Market interest rates   - Very long term, fully amortized, no balloon payment, no early maturity o 7-10 years for business acquisition, working capital o 15-18 years for equipment o up to 25 years for real estate   - Minimum owner injection 10% for real estate and start up business, 0% for business expansion, etc.   - Uses of funds: Real estate, business purchase, equipment purchase, expansion, working capital and inventory, debt refinance (see lender)   - Assumable

SBA 504 financing A combination of a direct note with SBA for 40% of the project and a bank note for 50% of the project (percentages may vary): - SBA note: very low fixed rate for term: 6.34% at October 2006   - Bank note: Market interest rates - Long term: o SBA note: 10 year maturity for equipment, 20 years for real estate, fully amortized, no balloon, no early maturity o Bank note: similar maturity - Owner injection generally 10%   - Uses of funds: Real estate and/or equipment only   ---------------------------------------------------------------------- For more information or to apply, please contact one of our loan officers at (972) 870-9300.