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Small Business Loans in Dallas

What financing options are available for small businesses in Dallas? Find out about possible loans and which ones might fit your business.


Business Loans in Dallas Made For Your Business

Dallas consistently ranks high on lists of best United States cities for small business, and a business loan can help you find out why!

Loan Types Available in Dallas

Dallas prides itself on being a friend to small businesses—there is no local sales tax nor does Texas collect business income taxes. The city is now a regional hub for conferences and tourism, and its economy has been thriving for years, plus it has some of the lowest cost-of-living expenses of any major American city. Used with an eye toward growth, a small business loan can help your company leverage Dallas’ excellent economy for your own success.

SBA Loans

A Small Business Administration (SBA) loan is a business loan partially guaranteed by the government via the SBA, but serviced by a private lender. They are popular with entrepreneurs because the interest rates are often relatively low, but the application process can be strenuous.

Line of Credit

Functioning almost like a credit card, a business line of credit allows your business to make purchases on credit and pay back your balance later.

Term Loan

A term loan is a very standard business loan, where a lender disburses your company a lump sum that you repay every month, plus any interest and fees, over many years.

Equipment Finance

If you finance equipment, your operation can use the equipment while you pay down the price of the machinery in installments.

Accounts Receivable Financing

To qualify for accounts receivable financing, you use unpaid invoices owed to your company as collateral for a business loan equal to or less than the amount of the invoices.

Local Dallas Business Loan Options

Several local organizations provide small business funding resources in Dallas.

Safe Harbor Commercial Capital caters to companies of all sizes and has a notable presence in Dallas, with a long and varied list of business funding options.

The North Texas chapter of the Alliance of Texas Angel Investors is an amazing resource if you are looking for outside funding and your operation is still in its early stages.

PeopleFund is a non-profit aimed at connecting small business owners throughout Dallas and the rest of Texas with business loans.

Business & Community Lenders of Texas has a headquarters in Dallas. As a non-profit focused on building community and economic development, it has several loan options for entrepreneurs.

How to apply for a small business loan

STEP
1
Fill out the 15-minute online application.

It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.

STEP
2
Receive matches.

See which credit cards you qualify for before choosing the one that best suits your business needs and offers the cash rewards you’re looking for.

STEP
3
Get funded.

Once you choose a card, you can get approved in as little as 7-10 days.

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FAQs About Small Business Loans in Dallas

The Dallas Regional Chamber is a phenomenal, nationally recognized resource for small businesses in the Dallas/Ft. Worth area, and you should definitely get in touch if you want to go into business in the region. SourceDallas, a City of Dallas initiative, includes everything you need to know about running a business in the city, as well as information on finding funding and networking. The Greater Dallas Hispanic Chamber of Commerce strives to support, promote, and grow the large number of Hispanic entrepreneurs in North Texas. Dallas is also home to an active chapter of the small business non-profit organization SCORE, and a great Dallas Metropolitan Small Business Development Center (SBDC), a resource organization that is an SBA partner.

  

The City of Dallas has set up several Public Improvement Districts (PIDs) in neighborhoods throughout the city and businesses located in a PID receive special property tax assessment considerations and other partnership resources. With the goal of helping businesses find and retain top talent, the Skills for Small Business Grant is offered by the Texas Workforce Commission for companies in Dallas and elsewhere in Texas. Particularly if your company works in early childcare or wildlife conservation, small business owners in Dallas and the rest of the region should routinely check the USGrants.org list of available federal government grants.

 

You can use a small business loan in Dallas to cover business expenses, like opening a new office, hiring more employees, putting up a billboard, or launching a website. You can also use many types of small business loans to help you deal with cash crunches or funding gaps.

In order to qualify for a business loan in Dallas, you need to select a corporate structure for your operation, like a sole proprietorship, corporation, or LLC. You then might need to register your business with the Texas Secretary of State, and you might need a license from the City of Dallas, depending on your industry. Once your company is set up as an entity, you can apply for funding. Lendio’s easy-to-use online platform lets you start comparing options in minutes for free. Loan qualifications will differ based on the lender and the type of financing you are seeking, but many financiers will base approval decisions on your business plan, your business history, and your personal credit report.

Quickly Compare Financing Options from Multiple Funders

Applying is free and won’t impact your credit

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