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Small Business Loans in Texas
The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $1.887 trillion as of 2019. As of 2015, Texas is home to six of the top 50 companies on the Fortune 500 list and 51 overall (third most after New York and California). In 2017, Texas grossed more than $264.5 billion a year in exports—more than the exports of California ($172 billion) and New York ($77.9 billion) combined.
The top 10 industries driving growth in Texas are:
Over the past decade, the construction industry has seen the fastest growth of any other industry in Texas. According to Investopedia, construction workers make up 6% of the nonfarm workforce in the state.
2) Real Estate
The real estate industry in Texas has been expanding since 2008 and is seeing its share of growth for the same reason as the construction industry—increased population.
When other industries experience a boon, the transportation industry also benefits. The most significant factor in the expansion of the transportation industry in Texas is the progressive development of other industries.
The Texas retail industry has experienced major growth, specifically in its occupancy rate. Steady population and job growth in Texas’ four major retail markets (Houston, Austin, San Antonio, and Dallas/Fort Worth) has led to a percentage climb for new retail businesses opening in the past few years. .
The consulting industry in Texas has steadily continued to grow over the past few years, more so than most other industries in the state. In fact, studies have indicated a positive trend in new businesses formed in 2017. The boost is mainly due to the consulting industry’s broad diversity, with a particular focus on cybersecurity.
The entertainment industry in Texas is taking off, particularly in the area of film. And more specifically in film, the hot commodity is animation; Austin is home to one of the top animation companies in the U.S., as well as three smaller studios that employ more than 200 animators collectively.
The professional services industry is booming in Texas. The U.S. is home to over 40% of the global industry and Texas ranks the highest in the nation with more than a tenth of its nonfarm workforce employed in the professional services industry. This number is expected to increase substantially, with projections showing a growth rate of 26% through 2026.
The rate of new businesses formations in the technology industry may seem slow across the country, but Texas recently took the lead in new tech business formations in 2016—more than 36,000 new tech businesses can be found in the state, according to CompTIA. Texas also leads the pack in new telecommunication companies formed.
9) Health Care
As the second fasting growing industry in the U.S. with more than $140 billion per capita, it’s not surprising that the healthcare industry is also growing by leaps and bounds in Texas.
10) Food Service
The food service industry makes up almost 50% of new business formations in the country and is one of the leading industries for new business formations in Texas. Reports show more than 45,000 eating establishments in Texas generating over $54 billion in annual sales.
How Many Small Businesses in Texas?
Texas has 2.8 million small businesses, according to the most current federal data available.
Of those 2.8 million small businesses in Texas, and there are 4.8 million employees.
Texas offers companies of all sizes and across all industries one of the best business climates in the nation, with a fair, transparent tax and regulatory structure designed for businesses to succeed.
Best States for Startups
Texas Small Business Financing Needs
It is often hard for small business owners to find business capital to hire more staff, expand, upgrade the equipment and software, or consolidate debt. Capital for Business provides the necessary support to those who form the backbone of the U.S. economy by offering short term loans and long-term loans with flexible terms and rates.
Capital for Business makes it easy to qualify for any type of business loan in Texas, whether it be an SBA loan, business line of credit, invoice factoring, working capital loans, equipment financing, or a merchant cash advance.
What is the Best Business Loan for Your Small Business?
Whether you are expanding your business, investing in marketing, or advertising, or managing cash flow, it is hard to grow without the right kind of small business financing.
SBA Loans in Texas
SBA 7a loans from $30,000 – $350,000 from the Capital for Business network can be used for debt refinancing and working capital. Working capital includes operational expenses, marketing, hiring, etc. SBA loans can be used to fund new equipment purchases as well.
SBA Commercial Real Estate Loans from $500,000 – $5 million from the Capital for Business network can be used for the purchase or refinance of commercial real estate that is 51% owner-occupied.
Bank Term Loans
A business term loan from lenders in the Capital for Business network is between 2-5 years and loan amounts anywhere from $30,000 to $500,000
- $30,000 to $500,000 loan amounts
- 2-5 year terms
- Fixed interest rate from 7.99%
- Monthly repayments
Business Line of Credit in Texas
A business line of credit provided by Capital for Business is based on the revolving credit. That means you can use the funds repeatedly. Having a business line of credit provides you with extra flexibility and peace of mind when it comes to injecting money into your daily operations. It helps you avoid downtime and make sure things are running smoothly
- Receive up to $250k with a business line of credit
- Business lines of credit rates as low as 6%
Small Business Loans in Texas
A small business loan from our marketplace of 100+ alternative lenders will enable you to get the capital you need for your business growth. Our high approval rates mean that we say ‘Yes’ when banks say no. Our lending process which takes less than 5 minutes will not affect your fico score and we boast a 24-hour loan approval.
Working Capital Loan
Working Capital can help you take care of immediate needs in your business, whether that is a cash-flow shortfall or a new business opportunity. No collateral is required for our working capital loans or short-term funding, the required documentation is limited, and perfect credit is not needed. Nearly every industry can get a working capital loan.
Working capital loans are perfect for business owners who need short-term funding to grow. Working capital loans are simple, fast, and affordable and are designed to help with seasonal shortcomings with revenue or the need to boost inventory.
Business Loans for Bad Credit
we have bad credit business funding options for business owners with bad credit. Bad credit shouldn’t affect your ability to receive a small business loan so our loan advisors take look at your business revenue and potential, rather than your credit score to find alternative lending options for your business.
Merchant Cash Advance
A Merchant Cash Advance is an innovative alternative to a traditional small business loan. Capital for Business utilizes your expected future credit and debit card sales to be able to provide you with working capital so you can put your business plans into action. Instead of fixed daily payments, the repayment for an MCA is completely flexible.
- Receive up to $500k with a merchant cash advance
- Factor rates as low as 1.15
- Access to business funding in as little as 24 hours
Are you in the need of new business equipment but do not have the necessary capital on hand to pay for it? Equipment financing done with Capital for Business is incredibly simple fast and affordable. We are a top-of-the-line marketplace alternative lender that can provide you with same-day funding to purchase any type of equipment that your business may need.
Whether software, heavy construction equipment, vehicles, and much more. You will repay your equipment loan with low monthly payments and we keep the upfront cost minimal to something that your business can afford.
At Capital for Business, factoring is a quick and flexible source of funds for businesses that are waiting for outstanding receivables to pay. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. Invoice factoring allows your credit line to grow proportionately with your sales cycle. We can fund as little as $5,000 a month and up to $2.5 million for larger companies.
Business Credit Cards
Business credit cards act as a revolving line of credit and are used for both purchases and payments. Businesses use credit cards with other loan products and are usually used for working capital purposes. Pre-revenue and startup companies can apply and receive these cards also, as well as established companies, of course. The biggest factor for approval is the strength of personal credit.
- Up to $150k
- Rates: interest rates starting at 0% intro rate for the first 6-18 months* and up to 19.99%
- Repayment: Revolving, credit cards are personal lines of credit.
- Fees: 3% to 5% origination fees
- Payments: Low monthly payments
- No collateral required
Credit Score: Must have a good credit score, at least a 680-fico score, good credit history, and a credit utilization not over 35%. Bad credit is not allowed
No Annual Revenue requirements to apply
- *not all cards have intro rates in our business credit card network
Why should you apply for our small business loans in Texas?
Capital for Business has been serving small businesses for over 15 years and knows what the entrepreneurs value the most. That is why we offer:
- favorable approval rates.
- we offer online business loans for small businesses
- we offer bad or poor credit business loans
- custom-tailored service with a dedicated loan specialist.
- reasonable eligibility requirements.
- flexible repayment terms on a daily, weekly, bi-weekly, or monthly basis.
- hassle-free application process.
- same-day approval.
Capital for Business is your reliable small business loan marketplace
Are you looking for ways to get small business financing in Texas? Capital for Business is a reliable marketplace lender trusted by thousands of small business owners across the U.S. and Canada. For more than 15 years, we have been helping Texas small businesses grow and develop their companies.
Flexible terms and rates based on your business’ performance, and not solely personal credit history, may make Capital for Business loan an attractive option.
Take advantage of our small business loans in Texas and bridge your capital shortfall. We are committed to helping you get the business funding you deserve, no matter what!
Industry Specific Business Loans
- Auto Repair and Body shop loans
- Agriculture Business Loans
- Beauty & Wellness Business Loans
- Chiropractic Business Loans
- Cleaning Services Business Loans
- Commercial Trucking Loans
- Construction Business Loans
- Convenience Store Loans
- Daycare Business Loans
- Dental Practice Loans
- Electrician Business Loans
- Food Truck Business Loans
- Landscaping Business Loans
- Gas Station Business Loans
- Gym and Fitness Business Loans
- Hardware Store Business Loans,
- Manufacturing Business Loans
- Medical Practice Loans
- Pharmacy Business Loans
- Plumbing Business Loans
- Real Estate Agent Business Loans
- Restaurant Business Loans
- Retail Business Loans
- Senior Care Business Loans
- Transportation Business Loans
- Hvac Business Loan
Industry Specific Equipment Financing
- Automotive Repair Shops Financing
- Commercial Trucks & Trailers Financing
- Commercial Vehicles Financing
- Computer Equipment Financing
- Construction & Contractor Equipment Financing
- Dental Equipment Financing
- Farm Equipment Financing
- Fleet Vehicles Financing
- Gym Equipment Financing
- Heavy Construction Equipment Financing
- Landscaping Equipment Financing
- Manufacturing Equipment Financing
- Medical Equipment Financing
- Office Equipment Financing
- Printers & Printing Equipment Financing
- Servers & IT Equipment Financing
How to get a Business Loan
OUR FAST BUSINESS LOAN APPLICATION PROCESS
Get business funding in as little as 24 hours
In just three easy steps, you can access the right financing solution for your business. Our fast application and 24-hour funding process give you the working capital needed to grow your business in no time!
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Texas Small Business Loan Resources
Trends and Tactics
We understand it takes a lot of courage and initiative to be a business owner and at one point or another your business may need working capital, renovations, or need to expand, the list goes on and on. Having access to capital for your business is important and receiving a business loan for bad credit, regardless of your credit will become vital.
The Section 179 tax deduction allows businesses to deduct the full cost of assets in the year they are placed in service. Generally, business assets are depreciated over the useful life, which can range from 3 years to 27.5 years. However, with the Section 179 tax deduction, businesses can immediately expense the asset to reduce their taxable income.
Making money is usually the primary purpose behind becoming a business owner. While there are never any guarantees for success, what is all but guaranteed is that you’ll need to spend money to make money, and usually a great deal of it. But what sorts of things will you be spending your financing on?
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