SBA Loans

Small Business Administration (SBA) Loans
The SBA has various loan programs to assist small businesses.  SBA is primarily a guarantor of loans made by private and other institutions and does not offer loans directly to small businesses.
 
Richardson-area banks that offer SBA-guaranteed loans:
Comerica Bank
801 E. Campbell Rd.
Richardson, TX 75081
Contact:   Charlie Sell
Ph: 214-570-7901
First Community Bank
1755 N. Collins Blvd., #100
Richardson, TX 75080
Contact:   Ron Tittle
Ph: 972-407-5409

Oppportunity Bank
1301 E. Campbell Rd.
Richardson, TX 75081
Contact: Dave Phillips
Ph: 469-3852885

Southwestern National Bank
1131 N. Jupiter Rd.
Richardson, TX 75081
Contact:  Mr. Shang Ding
Ph: 972-301-5988

Frost National bank
700 E. Cambell Rd, #300
Richardson, TX 75081
Contact:  Cecily Norris
Ph: 214-515-4914

ViewPoint Bank
720 E. Arapaho Rd.
Richardson, TX 75081
Contact:  Yvonne Stuart
Ph: 972-509-2020

ViewPoint Bank

VisionBank Texas
401 W. PGBT, # 101 
Richardson, TX 75080
Contact:  Sandra Sterling
Phone: 972-470-1500

 

SBA 7(a) Loan Program
Offered to a variety of small businesses, 7(a) loans are the most basic and most used type loan of SBA's business loan programs. The loans are offered up to $2,000,000. The maximum dollar amount the SBA can guarantee is generally $1.5 million. To be considered for financing under SBA’s
7(a) loan program, a business must:
  • Meet SBA size standards
  • Be "for-profit"
  • Have no internal resources (business or personal) to provide financing
  • Be able to demonstrate repayment
 
SBA 504 Loan Programs
504 loans provide long-term, fixed-rate financing to small businesses to acquire real estate, machinery or equipment for expansion or modernization. Typically, a 504 project includes a loan secured from a private-sector lender with a senior lien, a loan secured from a CDC (funded by a 100%  SBA-guaranteed debenture) with a junior lien covering up to 40% of the total cost, and a contribution of at least 10%  equity from the borrower.
SBA Patriot Express Initiative
Patriot Express Pilot Loan Initiative is for veterans and members of the military community wanting to establish or expand small businesses.
 
Eligible military community members include:
  • Veterans
  • Service-disabled veterans
  • Active-duty service members eligible for the military’s Transition Assistance Program
  • Reservists and National Guard members
  • Current spouses of any of the above
  • Widowed spouse of a service member or veteran who died during service or of a service-connected disability
  • SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative. 

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