Allow the experts at SouthStar Bank to guide you through your SBA loan and help you achieve your financial success.
– Austin B.
We understand the challenges
Why Choose SouthStar Bank for your SBA Loan?
- Get your answer fast so you can get on with the next step.
- Low down payments.
- Long term loans with low monthly payments keep your overhead low.
- Work with a team of professionals dedicated to supporting local businesses.
Your Local SBA Loan Team
Our focus is on our Central Texas community. We take pride in our neighbors and seek to help folks succeed, and work to build relationships for years to come. And, because we’re local, you can rest assured that SouthStar Bank will always be available to discuss your financial goals. We are excited to put your small business on the road to growth, sustainability, and long-term success.
Selecting the right lending partner is to put your trust in a financial institution, and we know this can be difficult. It’s important to us that you work with experienced lenders who can answer your questions thoroughly in a way that makes sense.
If you have further questions or concerns, or if you’re ready to begin the application process, contact us today!
Alexis Michael, Senior Vice President | NMLS# 790782
Amanda Aaron, Vice President of Lending | NMLS# 1819235
Pam Barbeau, Assistant Vice President
Frequently Asked Questions from Clients
SouthStar Bank requires a minimum of 10% down payment on all SBA loans.
Experienced principals who are able to show outside source of personal income for the household are preferred. Any owner of a small business with at least a 20% stake is required to provide an unlimited personal guaranty.
SBA 7(a) LoansThis program provides financial assistance to small businesses seeking to start operations or expand. Generally geared towards unsecured lending, SBA 7(a) loans are considered general purpose loans. Business applicants typically look at SBA 7(a) loans because they relate to financing working capital needs. These loans may include real estate and can be used for almost any type of business purpose beyond working capital, including the following short-term assets:
- FFE (furniture, fixtures, and equipment)
- Debt consolidation
- Business acquisition
- Purchasing or constructing real estate
SBA Express LoansSBA Express loans are similar to 7(a) loans, however, they are limited to $350,000 loan amounts.
SBA 504 LoansSBA 504 Loans provide financing to owner-occupied commercial real estate and equipment, which are considered fixed assets for expansion and modernization. More specifically, this includes:
- Purchasing existing buildings
- Acquisition of land
- Ground-up construction
- Financing building improvements
- Equipment acquisition
- What are the needs of your business?
- What is required to align your business for success over the next 12 months?
- What are your short-term and long-term needs?
- Who is your target customer?
- Have you performed market research?
- Who are your trusted advisors?
- What is your exit strategy?
- Entry and exit points
- Potential construction in the area
- Geographic suitability with your target customers
- Foot traffic
- Future development of the area