Banking News

Veritex Community Bank Expands Small Business (SBA) Lending Department

Veritex Community Bank Expands Small Business (SBA) Lending Department
The expansion of the Veritex Bank Small Business Loan department reflects economic growth within small business communities in Texas.

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.

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“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.

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“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.

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