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Green Bank Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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Green Bank Small Business Loan ReviewGreen Bank has been a leader in the push for government-guaranteed lending across Texas with financing programs available from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA). These loans will no doubt be even more necessary for helping small businesses recover following the terrible hurricane in Houston. As of 2012, Green Bank is a preferred SBA Lender. This designation means their clients can get a green light within three business days of a completed application.

Understanding Your Loan Options

The Green Bank SBA Express loans are for businesses with less established credit that want to improve cash flow, refinance debt, or fund improvements, equipment, or real estate. It features the easiest SBA application process and accelerated approval times, plus it offers longer terms and lower down payment requirements than conventional loans.

SBA’s goal is to help start-up and existing small businesses, with financing guaranteed for a variety of general business purposes. The SBA does not make loans itself, but guarantees loans through banks like Green Bank. With this partnership, Green Bank is able to provide small business loans that are structured under 7(a), SBA Express, Patriot Express or CDC/504.

Speed of Implementation and Loan Duration

Green Bank is distinguished as an “SBA Preferred Lender.” This means they have received permission to independently evaluate many of the aspects of your loan without getting government approval. SBA loans provide 90% financing, longer loan amortizations, no balloon payments and fixed-rate interest rates. Because they are a bank rather than a lending institution, they have inhouse underwriting and application processing is centralized for a more efficient process.

Green Bank does all of their underwriting in house, which helps save time on the loan application process. This can help their clients get the money they need when they need it. SBA loans will still have a longer approval process, so make sure that you have all of your paperwork ready before you start your loan application process. After that, any other non-express SBA loan is destined to take at least thirty more days after all the paperwork is submitted.

Fine Print and Final Thoughts

Green Bank offers an excellent option for customers who are interested in USDA and SBA loans, they specialize in. If you’re interested in one of these loan options for your small business, Green Bank is worth checking out to see if they have the expertise and qualifications you’re looking for in a small business lender.

Anne Miller


Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.

 

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