Tag Archives: Loans

Crockett National Bank donates $240,000 of unrestricted funds to Accion Texas

By North SA Chamber Editor
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Accion logo colorAccion Texas Inc. – the nation’s largest, nonprofit, micro and small business microlender – has received two large gifts from one of its banking partners, Crockett National Bank. The San Angelo-based bank has committed $200,000 through an unrestricted, zero-interest loan to be “forgiven” every year, as well as a $40,000 monetary gift to Accion Texas.

“The bank believes in giving back to the community and we believe in the Accion Texas mission of helping small businesses that are not bankable get the help needed to get started,” said Dahlia B. Garcia, vice president of small business banking at Crockett National Bank. “As these companies grow, they become bankable and they can come back to us to help them with a traditional loan. We truly believe in what (Accion Texas CEO) Janie Barrera has created in Accion.”

Both gifts will help fund general operations for Accion Texas, which has grown from a small, three-person operation in San Antonio in 1994 to an eight-state enterprise with more than 115 employees in 20 offices today. Accion Texas now lends in Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas.

“We are grateful to Crockett National Bank for its trust and for supporting our operations,” Barrera said. “This gift means that as we grow, we are able to continue to offer the personal, one-on-one services to the entrepreneurs who come to us for help with counseling, mentoring and loans.”

About Accion Texas
Accion Texas Inc.is a nonprofit, multi-state small business microlender that helps new and existing entrepreneurs successfully grow their businesses. Through affordable lending and business development services, Accion Texasis committed to empowering diverse individuals and small businesses that have limited access to traditional sources of capital. Since its founding in San Antonio in 1994, Accion has made more than 14,000 loans totaling more than

$165 million.  Accion now operates in eight states: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. To learn more about Accion’s lending options, call 888-215-2373 or visit www.acciontexas.org.

About Crockett National Bank
Crockett National Bank has grown to over $440 million in assets.  Crockett is among the best performing banks in Texas, ranking in the top 30 percent of 530 Texas bands as of year-end 2013.  It operates offices in San Angelo, San Antonio, New Braunfels, Austin, Georgetown and Ozuna.  For more information, visit www.crockettnationalbank.com.

 

Security Service Federal Credit Union receives best practice recognition from Credit Union Direct

By North SA Chamber Editor
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Security Services Federal Credit UnionSecurity Service Federal Credit Union (SSFCU) has received a Best Practice Award in the category of Business Development from CU Direct (www.cudirect.com), the nation’s leading provider of lending, automotive and strategic solutions to the credit union industry. The award was presented during the Credit Union Service Organization’s (CUSO’s) annual credit union lending and marketing conference, held in May in Las Vegas, Nevada.

The proven sales philosophy for SSFCU’s indirect lending department has evolved into a sales-centric culture focused on delivering superior service throughout the application, decision and funding process. For example, SSFCU’s indirect lending department can receive an application, underwrite the loan, receive the loan package, process and fund the loan the same business day, all in a paperless environment.

“Our success lies behind the fact that our business model is both sustainable and replicable, contributing to our ongoing growth,” said Charles Goss, SSFCU’s executive vice president and chief lending officer. “We spend a lot of time training and coaching our loan officers in their communication skills. This leads to our being better able to assess and address dealer needs, as well as accurately identify trends, both negative and positive.”

“We greatly appreciate the work and dedication our credit union partners put into their lending programs,” stated Tony Boutelle, president and CEO of CU Direct. “Their accomplishments provide insight to the strategies and best practices that will contribute to the overall success of our credit unions’ loan programs.”

SSFCU has made significant strides in service capabilities to both dealer customers and members acquired through indirect lending channel.  This, in combination with targeted product offerings, has resulted in excellent growth for the credit union.  With the focus centered on developing new and enhancing existing dealer relationships, indirect lending booked $2.2 billion in 2011, $2.67 billion in 2012 and $2.9 billion in 2013.  During the first four months of 2014, $1.054 billion has been funded, compared with the first four months of 2013 of $840 million.  The credit union recently passed the $5 billion mark in indirect auto loans.

“According to the most recent reports, SSFCU funds one out of every four cars within the San Antonio area,” said Danny Lane, vice president, indirect lending. “We see our business growing steadily since our expansion into Colorado and Utah.”

About Security Service Federal Credit Union
Security Service Federal Credit Union offers competitive, affordable financial products and services designed to meet the needs of its members. Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $7.9 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is among the top 10 credit unions in the nation. Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value. Learn more at www.ssfcu.org or call 1-800-52-SSFCU.

Accion Texas announces faster, more streamlined process for community advantage small business loans

By North SA Chamber Editor
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Accion logo colorThe U.S. Small Business Administration (SBA) acknowledged Accion Texas’s success as a small business lending partner by granting the nonprofit organization the “delegated authority” to cut approval times for applicants of the 7a Community Advantage loan from up to four weeks to within four days.

The SBA 7a Community Advantage program offers qualifying businesses with small business loans up to $250,000 to start or expand a business. Accion Texas started participating in the 7a Community Advantage loan program in July 2011, after the SBA started the pilot program in February that year. Since then, Accion Texas has approved 20 loans totaling more than $2.9 million to small businesses in Alabama, Arkansas, Louisiana, Tennessee and Texas.

With delegated authority, Accion Texas can approve SBA 7a Community Advantage loans to small businesses without forwarding applications to the SBA to review, cutting the approval process time down from weeks to just days. The SBA gives the designation of “delegated authority” to mission-focused, community-based lenders that serve low-income communities, based on the organization’s loan volume and loan quality.

This spring, Accion Texas received an award from the National Association of Development Companies for being one of the top 10 SBA 7a Community Advantage lenders in the nation. Accion Texas placed fifth among several dozen lenders participating in the SBA program.

“We’re excited that we can help small business owners achieve their dreams through the SBA 7a Community Advantage loan program,” said Dan Lawless, chief lending officer at Accion Texas. “Our goal this year is to double our approvals for the 7a program to $2.2 million. Being given delegated authority will help us achieve this goal.”

The Community Advantage loan product was designed by the SBA to reach underserved communities whose small business owners typically find it difficult to secure funding elsewhere. The product is a term loan with an interest rate range from 7.25 to 9.25 percent.

In order to be considered eligible for this loan program, businesses must meet one of the following requirements: The business must be located in low- to moderate-income community, in an Empowerment Zone, Enterprise Community, or HUB Zone. The business must be considered a “small business” according to SBA standards, or be owned by a veteran.

About Accion Texas
Accion Texas Inc. is a nonprofit, multi-state microlending company and small business lender that helps new and existing entrepreneurs successfully grow their businesses. Through affordable lending and business development services, Accion Texasis committed to empowering diverse individuals and small businesses that have limited access to traditional sources of capital.

Since we opened our first office in San Antonio with three employees in 1994, Accion Texas has helped thousands of people achieve their small business dreams. We’ve made nearly 15,000 loans totaling more than $160 million. Accion now operates in eight states: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. We offer business loans between $500 and $250,000 throughout our footprint, and up to $5.5 million in Texas through the SBA 504 lending program. Additionally, we offer training, networking opportunities and other support services for hardworking entrepreneurs. To learn more about Accion Texas’s offerings, call 888-215-2373 or visit www.acciontexas.org.

Smart borrowing: What’s in it for you?

By North SA Chamber Editor
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BroadwayBank_Logo_tagHigh-rate debt. Looming home improvement projects. The need for a more reliable car. There are many reasons you may need to borrow money, but making intelligent financing choices will give you added benefits.

Home Equity Line of Credit
Because you use your home as collateral, a HELOC gives you flexible access to cash with some of the lowest financing rates available for things like debt consolidation, home improvements, vacations, education and more. One of the best advantages of using a HELOC is that the interest you pay may be tax deductible.1  To get an idea of how much you might be able to borrow, use our calculator at broadwaybank.com/calculator.

BB_shutterstock_79997332-copyNew, Used and Refinance Vehicle Loans
When you get quality, great-rate financing before you shop for a vehicle, you’ll have better bargaining power and you’ll be able to take advantage of the dealership’s alternative incentives. That way you don’t have to choose between price discounts and good financing rates.

Home Loans
Mortgage rates are still near all-time lows, and with the housing market just starting to turn around, now is still a great time to buy or refinance a home. Whether you choose a conventional loan, construction loan or an FHA or VA loan, taking advantage of today’s low interest rates can help you save a bundle over the long term.

Broadway Bank offers a full array of loan options. To learn more, visit broadwaybank.com.2

EHL-LogoON-SITE
MORTGAGE LOAN OFFICER
Our mortgage lending partner, SWBC Mortgage, has a loan officer on-site at our Stone Oak location. Luis Bazaldua is ready to provide personal attention to your mortgage loan questions. Stop by our location at 18700 Stone Oak or call Luis at 210.283.6532 or 210.540.3267 (mobile) or email him at jbazaldua@swbc.com.

If you are ready to get started, go to:
 broadwaybank.com/personalbanking/MortgageCenter.html and apply online.

 

1              Consult your tax advisor regarding deductibility of interest.
2              Loans subject to credit approval. Lending area and other restrictions apply.

 

Volunteer Spotlight – Golf Tournament Chair: Adam Harris, Frost

By North SA Chamber Editor
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Harris_AdamAbout the Company: Adam Harris is Assistant Vice President and Commercial Real Estate Manager at Frost Bank. Managing the complex business of the bank’s commercial real estate customers takes a lot of drive, but making sure everyone gets the personal service for which Frost Bank is known is more important. Whether managing portfolios, underwriting loans, or providing financing for retail, industrial, office, and multi-family construction, Harris understand that integrity is key – and growing and maintaining trustworthy relationships is what really builds a community.

About the Program: The Golf Tournament combines networking and entertainment for businesses and their clients. The day includes golf, prizes, a silent auction and much more. Various levels of sponsorships are available and provide an excellent marketing opportunity for member businesses.

Personally Speaking: Adam is a graduate of the North Chamber’s 2012 Leadership Lab class. His volunteer work with the North Chamber demonstrates the strength of his civic and personal business commitments. “The North Chamber plays a vital role in connecting local businesses in the community through efforts to advocate for business and education, recognize deserving leaders, and provide professional development,” he says. “The golf tournament is a great way to get out and enjoy a fun-filled day, and socialize and network with other members and to help support the North Chamber of Commerce,” Harris says.

Security Service Federal Credit Union reaches $7 billion in loans

By North SA Chamber Editor
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Security Services Federal Credit UnionSecurity Service Federal Credit Union (SSFCU) has announced a new lending milestone – $7 billion in loans – with more than three-fourths of its portfolio in indirect lending.

Contributing to this success is SSFCU’s commitment to be first in service. “We have built strong relationships over the years with members, and those relationships have driven the way we do business,” said Jim Laffoon, SSFCU president. “We remain steadfast in our commitment to providing the finest service and transactional convenience for our members whether they are buying a car, starting a business or purchasing a home.”

Established in 1956 with just eight members and $25 in deposits, SSFCU approved its first loan five months after opening, reaching $20 million dollars in loans by 1966.  SSFCU is currently the number one auto lender and fifth largest mortgage lender in San Antonio and is ranked fifth nationally in dealer satisfaction by JD Power.

“We are humbled by our members’ continued loyalty and trust in Security Service over the years,” said Laffoon. “Without it, we would never have reached this milestone.”

SSFCU has 70 locations across Texas, Colorado and Utah.

About Security Service Federal Credit Union
Security Service Federal Credit Union offers competitive, affordable financial products and services designed to meet the needs of its members.  Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $7 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is among the top 10 credit unions in the nation.  Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value.  Learn more at www.ssfcu.org or call 1-888-415-7878.