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Find or Refer a Contractor in Tyler

Southside Bank in Tyler TX and obtaining a business loan

January 24th, 2011

Southside Bank Tyler TX Banks
Southside Bank is considered to be the most convenient bank in Tyler TX because they are in just about every grocery store in town and they are scattered throughout the city in several much larger facilities. Their recent billboard campaigns encourage you to use them for family loans for things like vacations and old antique cars. I have tried getting a loan for an antique car before and let me tell you if you want to see a bank loan officer give you a blank stare just ask the question about a loan for an antique car, very few know if this type of loan is even possible accept for the uber wealthy.

Southside Bank Locations in Tyler and Phone Numbers

 

  • 1201 South Beckham Avenue, Tyler – (903) 526-8682
  • 6201 South Broadway Avenue, Tyler – (903) 581-9773
  • 113 N Northwest Loop 323, Tyler – (903) 535-4463

Southside Bank has been around Tyler TX for some time and most who have lived here for awhile have noticed how well they have spread themselves out over the city.

They have not only created large brand new facilities going out as far as Lindale TX but they have gotten into almost every Brookshires grocery store in town as well.

Southside Bank also happens to be in the SuperOne food Store on Hwy 110. When visiting the Southside Bank website it looks a little old school when logging into their online banking but the functionality is all there.

I have been pleased with the online banking this far as I can easily check my bank account on my computer or iphone. I have made transfers between accounts through their online system on my phone as well.

When talking about loans with Southside Bank I have had great conversations with one loan officer there while another one sort of gave me as little information as possible.

As you can imagine banks get asked by thousands of people a year for loans and many of these people simply have no credit and have done no research in regards to a business plan or how a business idea may succeed.

When you walk into Southside Bank asking for a loan you need to come with an easily understood business plan. Although it is good to have a complete business plan with figures to back it up a loan officer will usually glance over one page that outlines what it is you want to do and make their mind up for there.

A trick to getting a loan for a business idea is to visit 100 banks if you have to. Tweak and redefine your business plan and make it easy to read. Be a pleasant person to talk to and don’t come across as begging the loan officer.

One last few bits of advice is to attempt ahead of time to establish some kind of business credit.

There used to be the things called pass book checking accounts in the old days but these are no more. The pass book account allowed businesses to slowly build up credit.

A better way to build up business credit is to buy a CD (Certificate of Deposit) at the bank you are trying establish a reputation at and take a loan out on that CD.

Pay the CD off over a few years time and never be late in making your payments on that loan. Once your business loan is paid off you will have a better credit score to use in getting that business loan.

Also try opening up a cell phone business account using your tax id as this will assist in building business credit. Go out to mint.com and find a good low interest business credit card and apply for that as well. By having the credit card, bank loan, and cell phone account you will be establishing credit using 3 different business accounts, just don’t be late on your payments.

If you haven’t already you will need to setup an LLC which will allow you to get a tax id to establish credit on. Rather than building up credit on your personal social security number you need to build up business credit. Go out to legalzoom.com and they can automate much of the tasks involved in setting up a new Limited Liability Company. You will get a tax id that you can use to open up a business banking account.

Be sure to buy that CD and take a loan out on that CD using your business tax id number and not your social security number so that you are building business credit and not personal credit.

Southern Utilities Again

November 22nd, 2010
Southern Utility Tyler TX

Southern Utilities in Tyler Texas

It’s been about a year and a half since I wrote my original article on Southern Utilities Water Company in Tyler, and still their service has not improved. Their unhelpfulness, and extremely poor customer service has made this company a source of real frustration for Tylerites like myself. Unfortunately, their lack of concern for customers is not limited to the company’s owners. Evidently the employees who work there are tired of the complaints of unhappy patrons and now make a point of maintaining a sarcastic and superior attitude.

So why am I returning to this topic? Because; I’ve had yet another disagreeable encounter with the business just today. When I arrived at the drive through window, (which by the way I did before four in the afternoon because that is when they close), I realized that I’d forgotten my bill. I explained to the girl what had happened and she responded with a blank stare and a “you’ll have to go inside for that.”

Now I realize that this in itself would not be a huge issue but I had my three year old with me, which was why I selected the drive through in the first place. I let slip a rye chuckle and asked “don’t you have a computer there that you can just pull it up on?” She responded with slightly more emphasis and a great deal more sarcasm: “You’ll have to go inside for that.”

So what she successfully communicated to me is that the kids working at Sonic have greater technology, and probably knowledge of that technology than one of the oldest utility companies in the Tyler area. I won’t detail the story of my encounter inside the building, but while I was not disruptive I did make it clear that I didn’t appreciate the company’s complete disinterest in the satisfaction of its clients. “As far as I can see there’s not a single thing this company is willing to do to make its patron’s lives easier.”

There are two ways to pay your bill with Southern Utilities: a check through the mail, or cash or check on location. There is still no website (which seems unheard of in today’s business climate), there’s no phone payment method, and they don’t even accept check or debit cards. The lady behind the desk didn’t care. Big surprise. Is there anyone in the East Texas area who wants to start a new business? I suggest servicing water to those who don’t qualify for city water. I can give you the names of numerous folks in our area who quickly sign on to your service.