Small Business Loans & SBA Loans in Houston
What financing options are available to Space City’s small businesses? Find out what your options are and which ones match your needs.
Types of business loans in Houston.
There is no shortage of small business loans in Houston, making it important to shop around and explore all your options. Here’s a closer look at some of the most popular loans you might want to consider.
SBA loans
SBA loans are business loans that are partially backed by the Small Business Administration (SBA), a federal agency. These loans are serviced by private lenders, but are popular because they generally have good interest rates.
Line of credit
Use a line of credit as a flexible form of financing. Unlike with a loan, this option does not involve a big disbursement upfront that you must repay, providing a flexibility that better fits many entrepreneurs’ needs.
Term loan
Term loans are common small business loans in which you would apply for a large disbursement of capital and then repays it over several years, along with fixed or variable interest.
Equipment finance
With equipment financing, you receive a piece of equipment and then pay off the cost of the equipment in installments. This way, your business can make money off the equipment immediately, even if you don’t have the funds to buy it at the sticker price.
Accounts receivable financing
Accounts receivable financing is an alternative form of business financing in which your unpaid invoices serve as collateral for a lump disbursement of funds.
Houston business loan options.
Several local organizations provide small business funding resources in Houston.
LiftFund, a nonprofit that helps startups, women, and minority entrepreneurs with funding has a Houston office with startup loans of up to $50,000, small business loans of up to $1 million, and SBA 504 loans.
Houston Business Development, Inc. (HBDi) is another nonprofit with business financing solutions in Houston. It offers small business loans, fast track loans, startup business loans, and SBA loans.
In addition, Houston Federal Credit Union supports businesses in the area through real estate loans, equipment loans, vehicle loans, and SBA loans ranging from $300,000 to $5 million.
Texas Capital Bank provides a strong array of commercial loans for small businesses in the Houston area.
PlainsCapital Bank offers multiple loan types to Houston small businesses.
Small businesses in Houston can apply for and receive a wide array of small business loans from TDECU.
Four simple steps to funding.
Tell us about your business.
Answer a few simple questions and complete the application in minutes.
Submit your application.
We’ll present your application to our marketplace 100+ lenders. Applying is free and won’t impact your credit score.
Compare offers.
Find the funding option with the terms that best fit your small business goals.
Get funded.
Once you accept, funding can hit your bank account in as little as 24 hours.
Speak with a Houston representative
FAQs
Houston SCORE offers expert mentors that can give you one-on-one, confidential business advice for free, as well as low- to no-cost workshops and a wealth of templates and tools. If you’re searching for networking and marketing opportunities, the Houston Metropolitan Chamber of Commerce and Houston West Chamber of Commerceshould be on your radar. Another great resource is the Houston Public Library, which offers a robust business resource center, meeting rooms, and a number of events geared toward entrepreneurs and small business owners.
The City of Houston has partnered with Wells Fargo to create the Houston Fund for Social Justice and Equity. It provides grants to help over 500 small businesses and nonprofits that benefit communities of color. Given by the Texas Department of Agriculture, the Young Farmer Grant is designed for agriculture ventures and offers up to $20,000. The Skills for Small Business Grant by the Texas Workforce Commission supports small business owners with new worker training. You may receive up to $1,800 for each new employee.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.