TexasBank lenders, L.V. Coffee and Adam Lancaster, recently received awards at Council Finance’s 31st Annual Meeting in Abilene for their participation in the Small Business Administration’s 504 loan program. Coffee was awarded the top volume producer for the second year in a row, and Lancaster was recognized for participating in the program. Coffee stated that the 504 program is the most beneficial lending option for the bank and the borrower that he has utilized, and Daniel Hutson with the Council Finance should be commended for making it a very smooth process.
Since 1983, Council Finance has been a U. S. Small Business Administration Certified Development Company (CDC), serving the state of Texas with focus on the 19 counties of the West Central Texas Council of Governments. As a CDC, they contribute to economic development by working with the Small Business Administration and private-sector lenders to provide financing to small businesses through the SBA 504 Program. The 504 Program enables expanding businesses or new businesses to secure long-term, fixed-interest rate loans for the purchase of land and buildings, as well as, remodeling and construction.
“Council Finance really appreciates lenders like L.V. and Adam that participate in the 504 program,” Hutson said. “They make it possible to help small businesses grow or start in our communities.”
CEO Greg Dodds stated, “When you consider today’s constantly changing and ever increasing regulatory burden along with an uncertain regional economic landscape, community banks like TexasBank have had to be innovative to continue to meet the financial needs of the communities in which we serve. The low, long term fixed rates and generous repayment terms offered through the SBA 504 program have proven to be advantageous for many of our existing and new borrowers. L.V. and now Adam have played an instrumental role in working with Daniel to develop the different SBA loan programs which have enabled TexasBank to continue to offer small and startup businesses the financing necessary to, not only survive, but grow and prosper. Their recognition is well deserved. I would invite any small or large business to come by and visit with Adam, Tim Espinoza or any other members of our local lending team to see if we can help you take advantage of our proven expertise and success in these programs.”
TexasBank is a privately held community bank with 7 locations serving Brown, Comanche and Erath counties. Along with a full service mortgage department, Texas Bank is able to provide its customers all of the financial products offered by the “big banks” coupled with the service typically provided by a local, community bank. We remain focused on reinvesting into the communities that we serve.
