SBA Loan In South Houston
Opportunities for Government Small Business Loans in South Houston, TX
Small business owners who cannot get financing from private lenders should not give up. A government small-business loan is an ideal option. Agencies like the Small Business Administration and the U.S. Department of Agriculture (USDA) guarantee a certain percentage of the loan amount and partners with qualified lending institutions to set guidelines and terms for the loans.
Government small business loans are available to help you expand your business, add product inventory, increase staffing, further training and more. However, to be considered for a guaranteed loan backed by the government, your business must reside in the United States, possess a strong business plan, good credit and more importantly, you must have exhausted all other funding sources.
Selecting the Right Government Small Business Loan in Harris County
Texas Funding and Consulting works with a variety of businesses from small startups to large corporations in South Houston, TX. They will provide you with information about applications, the approval process, and answer all of your questions.
Rest assured, that even if you were denied financing from a traditional lender, Texas Funding and Consulting will work with you to help you apply for a government small-business loan. There is a huge variety of loan options to meet your business goals, whether you have a start-up or established.
Texas Funding and Consulting will make sure you meet the eligibility requirements for government small business loans in South Houston, TX.
Government Small-Business Loans: There Are Many Types to Consider
As previously mentioned, government small-business loans are a last resort for eligible small-business owners who can’t get financing from private lenders. Government agencies guarantee a certain percentage of the loan amount and partner with qualified lending institutions to set guidelines and terms for the loans.
SBA 7(a) Loan
As the SBA’s most popular program, the 7(a) Loan is designed to get you over whatever financial hurdle your business might be facing. You can use the funding to expand your business or refinance debt, or you can use it as working capital. Programs include: Express Loan Program, Advantage Loan Program and Veterans Advantage Lending Program.
SBA CAPLine Program
The CAPLine program is another sub-program under the 7(a) umbrella, but it’s a line of credit for short-term needs. It’s a great option for when you need quick cash that you know will bring you relatively quick returns. It includes five different available credit lines: Seasonal, Contract, Builders, Standard Asset-Based and Small Asset-Based.
CDC/SBA 504 Loan
SBA 504 Loans are for expanding your business through real estate or property improvement, which is why they’re supported by local community development corporations (CDCs). You’ll put down 10%, and a bank will split the remaining 90% with a CDC. 504 interest rates are fixed. Proof of projected cash flow from your business is needed-sufficient funds to repay the loan within the terms.
SBA Export Loan
If you’ve been in business for at least a year and you need some extra funds to start exporting goods or to develop your exporting program, then an SBA Export Loan might be right for you. There are three different programs under the Export Loan umbrella: Export Express Loan, Export Working Capital Loan and International Trade Loan.
MicroLoans only require involvement from the SBA only at the beginning of the loan. The SBA matches non-profit lenders with businesses that have smaller financing needs. MicroLoan programs offer educational opportunities in small-business management, marketing, and technical skills.
SBA Disaster Loan
There are three different types of SBA Disaster Loans, each for different potential disasters. To qualify for these low-interest loans, your business must be located in a declared disaster area. Types include SBA Economic Injury, SBA Military Reservists Economic Injury and SBA Business Physical Disaster.
The U.S. Department of Agriculture (USDA) loans are similar to Small Business Administration loans. Businesses operated in rural areas may qualify for a Business and Industry (B&I) Loan through the USDA. These loans encourage regional growth by supporting businesses to expand and thereby increase local employment opportunities.
Texas Funding and Consulting Can Provide Financing Including A commercial Real Estate Loan To Businesses in Harris County
Researching different types of business loans is the safest and most effective way to decide which business loan option is best for your business in Harris County. Texas Funding and Consulting can assist you with the research so the loan you select allows you to reach your business goals whether it be through government small business loans, SBA loans, or a commercial real estate loan South Houston.
ContactTexas Funding and Consulting to begin the funding research process or to search for a commercial real estate loan. Call 713-344-1199 or visit https://funding4texas.com. Texas Funding and Consulting will provide you with a free, no-obligation consultation with a financing professional.
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