Small Business Administration (SBA) loans are guaranteed by the government and made for small business owners to help them reach their full potential. If you are a small business owner in the Lone Star State and need some capital to grow, Texas SBA loans could be what you need to help your business thrive.
Business Funding Group (BFG) leverages decades of experience to help small businesses get the funding they need. With our team’s help, you can simplify the process of applying and getting approved for a loan.
Call us today to discuss your business goals and SBA loan eligibility!
Business owners in Texas can choose between two different SBA loan programs:
SBA’s 7(a) loan program is by far the most popular of the two. This is because 7a offers:
Businesses can obtain a 7(a) loan of up to $5M and can be used in a variety of ways, for example:
7(a) loans offer flexibility for your business, allowing you to grow without dealing with the high interest rates or strict conditions of traditional loans.
The 504 loans, although a little less popular than its counterpart 7a, have unique benefits:
The SBA 504 loans are almost exclusively used to purchase owner-occupied real estate for your business, but you can also use it to purchase long-term machinery and equipment.
For example, a business owner could secure a 504 loan to purchase a warehouse in Texas, saving money on rent.
Securing an SBA loan in Texas may seem complicated, but it is simplified with the help of BFG.
There are many rules and requirements that we can help your business navigate to get the best loan a bank is willing to make. For example, Texas is a homestead state, your primary residence cannot be used as collateral – this affects how we might help you with your application to be in the best position to get a loan.
Strong cash flow and a solid personal credit score are the foundations of getting approved for a SBA loan.
Our loan experts at BFG can help you decide which loan program is best based on your business’s financial needs, as well as establishing if and how much you qualify for!
Once eligibility has been established, and you decide you want to continue working with BFG: Data collection is the next step. It involves gathering all necessary paperwork for lenders to review and approve your loan. Our team helps prepare, collect, and review all documentation needed for the application before submission to one of our lenders to ensure you obtain the loan you need.
Choosing the right lender is a crucial step in the SBA loan process and can directly impact your approval chances. At BFG, we’ve built strong relationships with trusted lenders and understand their specific preferences—whether it’s loan size, purpose, or location—helping you find the best match for your financing needs.
During the lender review process, the lender will ask questions related to your application, which we help you with!
When the lender approves your loan, a commitment letter outlining the loan’s terms and conditions. Once the commitment letter has been signed, the closing process starts. The closing process is heavily dependent on what the use of funds are, but steps include:
Once the above is complete, the lender will issue the funds.
With decades of experience, BFG has deep insight into what it takes to get your loan approved. We’ve encountered and successfully resolved countless challenges along the way—ensuring you’re in the best position to secure funding.
We guide you through the entire process, from an initial call to discuss your business goals to the disbursement of the funds.
While we handle your application, you can focus on your business.
Contact us today to learn more about Texas SBA loans during a 10-15-minute no-obligation call.
(917) 593-5013