Loan Servicing Department
GTCC promises to help you make the most out of your funding after your loan has been secured. We are committed to providing our borrowers with assistance for any post-loan services you might need. Please contact our Servicing Department today with questions, concerns, and feedback, and we’ll be more than happy to help you with:
- Subordinations (refinance of first lien mortgage)
- Prepayment of loans/loan payoff
- Monthly payments for your SBA loan
- Assumptions
- Guarantor releases
- Collateral releases
- Changes in your ACH debit account
- Payment deferrals
- Interest statements
- Loan activity
General Payment and Loan Servicing FAQ
When is my loan payment due?
If you have an SBA 504 loan, your loan payment is due on the first business day of every month. The terms of your loan agreement require the payment to be made by Automated Clearing House (ACH) transfer from your bank to Wells Fargo Bank, N.A. Corporate Trust Services, also known as the Central Servicing Agent (CSA) for the SBA. If your payment is rejected when the ACH transaction occurs, you may wire the funds as an alternative. To avoid any late fees, your loan payment must be posted to Wells Fargo Bank, N.A. Corporate Trust Services by the 15th of the month. To discuss this further, please contact our Servicing Department.
If you have an SBA CA 7a loan with Greater Texas Capital Corporation (GTCC), your loan payment is due on the 1st of the month or the next business day. GTCC will draft the bank account provided at closing each month. If you have an ACH reject you must contact our Servicing department to discuss payment options.
How are my loan payments made (does it have to be by automatic debit)?
Loan payments must be processed via an automatic debit or wire transfer. In the closing process with GTCC you filled out a form and provided a voided check indicating the account from which your loan payments will be automatically debited.
Can I change the account my loan payments are debited from?
Yes, whether you have an SBA 504 loan or an SBA CA 7a loan you may change the account from which your loan payments are automatically debited. Please contact our Servicing Department to get a new ACH Debit form.
To change the bank instructions for your SBA 504 loan you will need to complete a new ACH debit form as well as provide a copy of a voided check if you have one. You will then need to return the document(s) to our office no later than the 10th of the month in order for the new account to be used for the following month’s auto draft.
To change the bank instructions for your SBA CA 7a loan you will need to complete a new ACH debit form as well as provide a copy of a voided check if you have one. You will then need to return the document(s) to our office no later than the 5 business days prior to the next draft.
What is my loan balance?
If you have an SBA 504 loan, you can check your previous month’s loan balance at any time by visiting MySBA Loan Portal, or referencing the Amortization Schedule we provided you when your loan funded. Your amortization schedule is a breakdown of your monthly loan payment for the life of your loan. This is provided to you in lieu of monthly statements. However, you can request your current loan balance or new Amortization Schedule by contacting our Servicing Department.
If you have an SBA CA 7a loan, you can check your previous month’s loan balance at any time byvisiting MySBA Loan Portal, or via your monthly statements. However, you can request your current loan balance or a copy of your most recent loan statement by contacting our Servicing Department.
What is the interest rate on my loan?
If you have an SBA 504 loan the “Effective Rate” is referenced in the Funding Notification, email we sent you when your loan funded. If you do not have this information, please contact our Servicing Department.
If you have an SBA CA 7a loan you can find your original interest rate on your loan documents provided at closing. If your loan has an adjustable interest rate, it will be adjusted quarterly after the monthly payment has been made in January, April, July and October as per the rates published by SBA’s Federal Transfer Agent. To get your current interest rate on your SBA CA 7a loan, please contact our Servicing Department.
How much interest did I pay last year?
Each year, during the first half of February, GTCC mails out a copy of the Annual Statement to every borrower. The Annual Statement outlines the year-end information, including the loan balance as of 12/31/YEAR, the yearly interest paid, and yearly fees paid. If you didn’t receive a copy or need to request another copy, please contact our Servicing Department.
How do I get a copy of the IRS form 1098 for my loan?
IRS form 1098 is issued only to individual borrowers who have paid more than $600 interest; they are not issued to Corporations, LLCs, Enterprises, Trust or Associations.
For SBA 504 loans these forms are mailed directly from SBA at the beginning of February. If you didn’t receive a copy or need to request another copy, please contact our Servicing Department.
For SBA CA 7a loans Greater Texas Capital will issue these documents to you. If you didn’t receive a copy or need to request another copy, please contact our Servicing Department.
How can I update my mailing address or other contact information?
You can update your contact information by contacting our Servicing Department. Please include your phone/fax numbers, email address and postal address.
