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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.

Tyler Texas Insurance Companies

September 10th, 2009
Tyler Texas Home Insurance

Tyler TX Home Insurance

When shopping for an insurance company in Tyler Texas you want to try and go with a bundled plan if possible. By bundling your home, car, health, and life insurance under one insurance company you can save a lot of money. Some insurance companies specialize in just home, and auto insurance, some specialize in health and life and some insurance companies have insurance plans for all of these life issues. It can sometimes work in your favor to go with a bundled insurance plan for auto and home and use a different insurance agency for health insurance and life insurance. Many times insurance companies that specialize in one or the other will be able to serve your needs better because they know what products are out there and what will fit you best.

If you have a bank you use in Tyler that also offers auto and home insurance it can help you establish a stronger relationship with your bank for future loans and business deals if you use them for your Tyler Texas insurance needs. For instance, CFG Insurance is located in Citizens National Bank in Tyler Texas and offers a shopping experience for their banking customers. You can go into Citizens National Bank and Jeff Warr with CFG can shop insurance rates and plans for both your home and automobile and find a bundled insurance plan that will save you the most money. You do not have to bundle your home and car insurance but it is nice to know that there is this option for additional savings.

CFG insurance also offers health and life insurance as well if you need to get something for your business or just something personal for your family. Because personal health insurance is very expensive we recommend going with a health plan that has a very high deductible. Your health insurance will be much cheaper if you opt in for a health plan with something like a $10,000 deductible. This will insure you against any catastrophic injuries, illnesses and diseases.

For instance if you have to pay a $100 for a flue or check up that is usually manageable to pay for out of pocket but if you get cancer you know you will not go bankrupt in the process since your Tyler health insurance will cover that exorbitant cost of treating cancer. Sense the USA has the highest cancer cure rate in the world you will have insurance to pay for it and the best treatment available in the world. That is why people fly in from out of country just to get treatment for things like prostate cancer right here in East Texas. Another example is you receive a personal injury in a car accident or job related injury you will know that your health insurance will cover the cost of this as well if it was your fault. If it was not your fault the Tyler business or insured driver will cover the cost of your injury.

Jeff with CFG insurance can work out a payment plan where you pay each month or you can pay it all up front and save additional money on your insurance premiums. One of the main reasons I use CFG Insurance is because of their shopping the prices for me and finding the best coverage and price to meet my needs. If you enjoy talking local politics and issues in the Tyler area Jeff Warr is the Smith County Commissioner Precinct 1. This is the fastest growing East Texas precinct and includes Bullard, Flint-Gresham, Noonday, part of Lake Palestine, and the southwest part of Tyler.

If something happens and you sell one of your cars and need your insurance plan changed to show the change in ownership CFG insurance can quickly adjust the insurance premium and coverage and give you back any money you may have paid to reflect the change in coverage. Jeff is a pleasure to work with and we have been very pleased with the price of our home and car insurance and how quickly we can get our insurance coverage changed either over the phone or when dropping by Citizens National Bank to make the change.