San Antonio Business Loans & SBA Loans
Which financing options are right for your small business in the Alamo City? Learn about loans in your city and get matched with the right one.
Types of business loans in San Antonio.
There are a number of business loans in San Antonio. The ideal options depend on your unique needs and goals. Here are several of the most popular types of small business financing solutions 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.
San Antonio business loan options.
Several local organizations provide small business funding resources in San Antonio.
San Antonio Citizens Federal Credit Union serves San Antonio business owners with a variety of products, like business credit cards, business lines of credit, vehicle and equipment loans, and commercial real estate mortgages.
You may also lock in business financing through the Cosa Loan Interest Buydown Program.
San Antonio partners with LiftFund, a non-profit, Community Development Financial Institution (CDFI), and Community Development Corporation (CDC), that supports small business owners, to provide 0% interest loans that assist with business startup or expansion costs or the purchases of property, inventory, and equipment.
The Bank of San Antonio offers multiple financing options to small businesses in the city, including SBA loans.
Small businesses in San Antonio can receive funding through River City Federal Credit Union.
If you’re looking for a business loan for your San Antonio small business, look to United Texas Credit Union for multiple funding options.
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 75+ 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 San Antonio representative.
FAQs
Through the Bank of San Antonio, you can enjoy access to a number of small business loans, including equipment financing, lines of credit, and business construction loans. The bank is also an SBA-approved lender that offers SBA 7(a) and SBA Express loans. Broadway Bank is another local small business financing option. It offers term loans, lines of credit, and SBA loans in addition to iBIZ® Small Business Online Banking, which comes with ACH direct deposit, wire transfers, bill pay, and mobile deposit.
San Antonio’s COVID Impact Grants Program may be an option if your small business is still feeling the effects of the pandemic. You can apply for grants that range from $15,000 to $35,000. Depending on your unique situation, you might also qualify for an extra $10,000 construction impact supplement. There’s also the Skills for Small Business Grant from the Texas Workforce Commission (TWC), which supports small businesses with less than 100 employees who prioritize training opportunities. To find an updated list of other grants in San Antonio and Texas, don’t hesitate to check out Texas GrantWatch.
A San Antonio small business loan can help you get your venture up and running or grow the business you’ve already established. If you take out a term loan, for example, you can put the proceeds towards commercial real estate, marketing, insurance, or inventory. An equipment loan may come in handy if you need to purchase new equipment or upgrade old equipment.
Before you move forward with a San Antonio business loan, decide on a business structure, like a sole proprietorship or LLC. Then, choose your business name and register your business. Don’t forget to obtain any required licenses or permits, register for San Antonio taxes, and apply for an employer identification number with the IRS. Once you complete these steps, you can apply for financing, as long as you meet certain credit score and annual revenue requirements imposed by the lender.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.