SBA and USDA Lending
Government Guaranteed Lending
SBA and USDA Business Loan Options Make us Different
Green Bank has the resources to provide business-owners with the platform they need to develop their business. Since the inception of Green Bank, the focus has been on developing businesses, small and large. Our efforts have paid off with notable growth in the Texas banking market.
Brownsville to El Paso to Amarillo to Tyler to Galveston—Green Bank can meet the needs of our customers. Our phones ring across the state and our team has been on the front line for government-guaranteed lending across Texas with financing programs available from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA).
SBA vs. USDA
The most common government guaranteed loans are SBA 7(a) guaranteed loans. SBA loans can offer other benefits not available with traditional business loans or financial situations. The typical SBA loans include:
- Working Capital
- Leasehold Improvements
- Owner-occupied commercial real estate
- Debt refinance
USDA are less common for ‘city banks’, but can be more desirable. Don’t let the name fool you. If your headquarters is in a major metro, but your project is in a small community—USDA might be the way to go.
Green Bank is a Preferred SBA Lender
Green Bank opened its SBA Lending Group in 2011. In mid 2012, the bank has been added to the agency’s short list- now listed in the Preferred Lender Program. This designation means our clients can get a green light within three business days.
It’s a notable designation and vote of confidence. We can commit the SBA on most loans; our bankers learn your business, figure out if it is going to work and are able to move forward. About USDA loans
The government guaranteed USDA loan program is open to individuals, corporations, cooperatives, partnerships and other for-profit and nonprofit entities. Loans can be used for an array of purposes: business and industrial startups, acquisitions, construction, conversion, expansion, repair, refinancing, permanent working capital, pollution control and more.
Business and Industry (B&I) loans are for rural areas, defined as cities, towns and their surrounding areas with populations under 50,000, with priority for rural communities with populations under 25,000.
Rural community loans are available to projects like water management, hospitals or fire and safety initiatives. These loans are open to communities with populations under 20,000, including municipalities, counties and special-purpose districts, as well as non-profit corporations and tribal governments.
About SBA loans
Since 1953, the U.S. Small Business Administration has provided financial, technical and management assistance to start or acquire a business, buy land and equipment, renovate, refinance, or acquire inventory or working capital.
The 7(a) Loan Program is SBA’s primary program for helping start-up and existing small businesses, with financing guaranteed for a variety of general business purposes. The SBA 504 Loan Program assists small business owners in the purchase of commercial real estate or machinery/equipment.