Greater Texas Capital Corporation Produces More North Texas SBA Loans Than Any Other Lender in FY 2012
Dec 11, 2012 | 889 views | 0 0 comments | 5 5 recommendations | email to a friend | print


Greater Texas Capital Corporation Produces More North Texas SBA Loans Than Any Other Lender in FY 2012



Record Number of Loans Totaling More Than $52 Million Give Start to 54 Small Businesses



TYLER – The Greater Texas Capital Corporation (GTCC), a statewide certified development company established to contribute to economic development at the state and local level, secured more money for more small businesses than any other Small Business Administration (SBA) lender in the North Texas District in fiscal year 2012.



According to the North Texas SBA District, GTCC produced 54 loans totaling more than $52.4 million to support businesses in the 72 counties it serves. That is a significant increase over fiscal year 2011, when the company funded 43 loans totaling $32.9 million to businesses in industries such as retail, manufacturing, medical and automotive.



“The word is out that GTCC is a conscientious and capable provider of SBA 504 loans, one of the smartest financing options for small businesses,“ says John Hart, GTCC president. “We take pride in packaging, processing, closing and servicing loans that give North Texas small businesses the opportunity to grow, thrive and enrich their communities.”



SBA 504 loans are especially attractive for small business owners because they provide up to 90 percent financing at below-market, fixed interest rates with amortization terms up to 20 years. They are paired with a bank commercial loan to finance the acquisition of major fixed assets, including the purchase, construction, expansion or renovation of owner-occupied commercial real estate and/or the acquisition and installation of heavy-duty machinery and equipment.

 

The SBA 504 loan program is also increasingly on the radar of Texas banks, and GTCC works closely with institutions in East Texas and around the state to serve as the conduit between borrowers and lenders.



"We are seeing a growing number of banks of all sizes that want to utilize this program as a way to provide their borrowers the access to long-term fixed rates that are at historic lows,” says Hart. “The program is a win-win solution for the bank and the borrower."



GTCC is the second largest SBA loan provider in the state, and ranks 20th among more than 300 certified development companies in the nation.



###



 

About Greater Texas Capital Corporation: One of the country’s fastest-growing Certified Development Corporations, Greater Texas Capital Corporation helps businesses secure favorable fixed asset financing. As a Certified Development Corporation, we are a nonprofit company specifically established to contribute to economic development. We work with the SBA and other lending partners to provide loans to small businesses requiring real estate and equipment financing with long-term, fixed-rates to acquire major fixed assets for expansion or modernization throughout Texas. Additionally, we cooperate with other CDCs to create solutions anywhere in the USA.



Comments
(0)
Comments-icon Post a Comment
No Comments Yet