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.
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