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Sba Loans

Small Business Administration (SBA) loans for Central Texas

TFNB Your Bank For Life is the only Small Business Administration (SBA) Preferred Lender headquartered in McLennan County. SBA loans offer low-risk, accessible lending solutions for small businesses.

SBA Loans

Our TFNB Your Bank For Life SBA Team

What is the Small Business Administration?

The Small Business Administration (SBA) is a federal agency dedicated to supporting the nation’s small businesses. The agency offers counseling and entrepreneurial training to small business owners. They also advocate before Congress and review legislation meant to protect the interest of America’s small businesses. TFNB has partnered with the SBA for decades to provide financial capital to small businesses in McLennan County.

What is an SBA loan?

The SBA does not directly lend to small businesses. Instead, they partially guarantee loans for their partnering lenders. These loans are less risky for lenders and more accessible for small businesses.

Are you eligible for an SBA loan?

To qualify, your organization must:

  • Be a for-profit business.

  • Do business in the U.S.

  • Have invested equity (time/money).

  • Not be eligible for conventional funding.

SBA loan uses:

Small businesses can use SBA loans for a variety of purposes, including:

  • Working capital

    Use an SBA loan to cover the everyday expenses of running a small business.

  • Equipment

    If a piece of important machinery breaks down, an SBA loan can help fix or replace it.

  • Furniture and fixtures

    Get help furnishing your small business office or restaurant.

  • Purchasing real estate

    If you are buying your first location or expanding, an SBA loan can help cover costs.

  • Debt refinancing

    If you are looking to get out from the terms of an existing loan, you can refinance with an SBA loan from TFNB.

SBA loan benefits:

An SBA loan from a certified lender offers distinct advantages over other loan types:

  • Low interest rates

    SBA loans generally have lower interest rates than other non-guaranteed small business loans. This means the cost of borrowing funds is less expensive in the long run.

  • Capital availability

    Being an SBA Preferred Lender comes with many benefits. A partial guarantee by the federal government means more flexible terms and rates than other lending channels.

  • Ideal repayment terms

    SBA loans have longer repayment periods and easy-to-follow payment schedules. These help fit the needs of many growing businesses. With an SBA loan, financial aid doesn’t have to mean more stress.

  • Small down payments

    SBA loans may only need a 10 to 20 percent down payment while other loans may ask for upwards of 30 percent.

  • Flexibility

    Once you have borrowed from an SBA lender, the money is yours to use as needed. If unexpected expenses arise, you have the flexibility to reallocate the borrowed funds.

Reach out for more information:

Fill out the form below and a member of our SBA team will reach out to answer any questions: