Veritex Community Bank Expands Small Business (SBA) Lending Department

Rhea-AI Summary

Veritex Community Bank is expanding its Small Business Loan department to meet the rising demand for SBA loans, reflecting growth within Texas's small business sector. The bank, among the top SBA preferred lenders, offers various lending options, including SBA 7(a) and 504 loans. With Texas ranking second in the U.S. for small businesses, Veritex aims to support job creation and economic stability. The bank is also enhancing its outreach to women-owned businesses through its Women in Business program. Veritex is recognized as one of Fortune’s 100 Fastest Growing Companies for 2020 and 2021.

Positive

• Expansion of the Small Business Lending department to meet growing demand.
• Recognition as a top SBA preferred lender.
• Focus on supporting women-owned businesses through targeted programs.
• Ranked as one of Fortune’s 100 Fastest Growing Companies in 2020 and 2021.
• Increased talent acquisition in the lending department.

Negative

• None.

The expansion of the Veritex Bank Small Business Loan department reflects economic growth within small business communities in Texas.

HOUSTON, July 18, 2022 (GLOBE NEWSWIRE) -- (www.veritexbank.com) Veritex Community Bank, an SBA top preferred lender, is doubling the size of its Small Business (SBA) Lending department to accommodate the growing demand for SBA loans. A Texas-headquartered bank, Veritex Bank serves small business owners with several SBA lending options, including SBA 7(a) and SBA 504 Loans, as well as USDA loans for rural businesses.

“Small business drives economic growth by offering job opportunities,” said Jon Heine, Veritex Community Bank Houston market president. “During a time of economic uncertainty, supporting small businesses can have a tremendous impact on the financial health of the areas we serve by allowing people to work closer to home, increasing city revenue and connecting the community.”

Historically, small business has been the backbone of the American economy. Texas ranks second in the U.S. for number of small businesses. Home to 3 million businesses, 1.25 million are women-owned. Veritex Bank is active within the women-owned business community, providing an outreach program, Women in Business (WIB), which connects female executives and business owners through networking events.

“Many who left their jobs during the Great Resignation did so to start their own business. We are experiencing a demand for working capital finance, real estate construction and acquisition loans, equipment purchases and cash management. SBA loans offer longer terms, allowing for lower monthly payments and better business cash flow,” said Jerry Tarnopol, Veritex Community Bank’s new SBA director. “Our focus is to walk alongside our customers and help them understand their options as they launch and grow their business.“

One of the 10 largest banks headquartered in Texas and one of Fortune’s 100 Fastest Growing Companies for two consecutive years, 2020 and 2021, Veritex Bank is on track to continue adding to the growing pool of talent in its Small Business (SBA) Lending Department.

“Veritex Bank has been known for attracting the best talent in the industry, and, once again, we are adding new team members who will make meaningful contributions to Veritex Bank,” Chairman and CEO of Veritex Community Bank Malcolm Holland said.

For more information on other career opportunities visit www.veritexbank.com.

About Veritex Bank
Veritex Community Bank is a mid-sized community bank serving its customers with a full suite of banking products and services. The bank has convenient branch locations in Houston, Fort Worth, and Dallas, Texas, with more than $10 billion in total assets. The bank, headquartered in Dallas, specializes in providing depository and credit services to small to mid-size businesses, which have been largely neglected by national banks. The name “Veritex” is derived from the Latin word “veritas,” meaning truth and “Texas.”

FAQ

What is Veritex Bank's recent expansion about?

Veritex Bank is doubling its Small Business Loan department to accommodate growing demand for SBA loans.

How does Veritex Bank support women-owned businesses?

Veritex Bank has a Women in Business outreach program to connect female executives and business owners.

What recognition has Veritex Bank received?

Veritex Bank was named one of Fortune’s 100 Fastest Growing Companies for two consecutive years, 2020 and 2021.

What types of loans does Veritex Bank offer for small businesses?

Veritex Bank offers SBA 7(a) and SBA 504 loans, as well as USDA loans for rural businesses.

What is the significance of small businesses in Texas according to Veritex Bank?

Small businesses drive economic growth, create job opportunities, and enhance community financial health.