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Best Small Business Loans in Dallas, TX

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Loan Overview

Loan Amount Up to $500,000
Estimated Repayment Terms 1-5 Years
Interest Rate Starting at 7%
Speed of Funding As fast as 1 day
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Dallas ranked second among Forbes’ list of Best States for Business in 2020. That’s no surprise considering the Dallas-Fort Worth area is home to some of the largest companies in the country, including American Airlines and AT&T, as well as hundreds of local restaurants, shops and offices. 

The challenge for many small business owners lies in retaining customers in an economic climate where every entrepreneur is vying for clients, including your competitors. Keeping your brand current or, in some cases, sustaining operations occasionally requires outside funding. But where should you turn?

We’re letting you in on several top lenders for small business loans in Dallas, TX, as well as spotlighting the state of entrepreneurs in the city.

Business Landscape in Dallas, TX

Based on the most recent data from the U.S. Census Bureau, there are roughly 142,600 business firms in Dallas. That’s in a city of more than 1.3 million. Approximately 46% of these businesses are owned by minority business owners and 37% by women. Additionally, nearly 9% of business owners are veterans.

According to the U.S. Small Business Adminstration (SBA), the following sectors produce the most small businesses in Texas: 

  • Professional, scientific and technical services
  • Construction
  • Administrative, support and waste management
  • Retail trade
  • Health care and social assistance
  • Real estate, rental and leasing
  • Transportation and warehousing

5 Banks for Business Loans in Dallas

Here are several top conventional lenders offering commercial and small business loans in this popular Texas city. 

1. Comerica Bank

This Dallas bank is accredited by the Better Business Bureau, where it’s earned an A+ rating. It was also ranked No. 33 on Forbes’ 2020 list of America’s Best Banks and earned a 4.5-star Yelp rating. 

Business loans available here include the following:

2. Frost Bank 

This bank’s holding company Cullen/Frost Bankers, Inc. earned No. 20 on Forbes’ Best Banks list. Additionally, Frost Bank is A+ rated by BBB and has earned a 4-star rating on Yelp. 

Find these financing options here:

  • SBA loans (starting at $25,000)
  • Term loans (starting at $5,000)
  • Lines of credit (starting at $5,000)
  • Owner-occupied real estate loans (maximum 80% loan to value)
  • Equipment leasing and financing (starting at $50,000)
  • Import and export financing (90% against global accounts receivables and 75% against inventory for exporting)

3. Inwood National Bank

This bank has earned a 4-star rating on WalletHub as well as an A+ rating from the BBB. There are 4 locations in Dallas, with the main branch in the Highland Park area.

In addition to business checking, savings and CDs, you can find the following types of funding here: 

  • Term loans
  • Equipment financing
  • Real estate loans
  • Lines and letters of credit

4. Regions Bank

Regions Bank has 5 branch locations in Dallas. It’s A+ rated by the BBB and has earned a 4-star rating on WalletHub.

Here are the business loans this bank offers:

  • SBA loans
  • Term loans
  • Lines of credit
  • Business credit cards
  • Lease financing
  • Seasonal loans
  • Bridge loans
  • Equipment financing
  • Commercial retail financing
  • Commercial supply chain financing

5. Simmons Bank

This bank’s been financing small businesses for more than 100 years. In 2020, Simmons Bank was named one of WalletHub’s Best Banks Near Dallas, TX, and maintains a 4-star user rating on the site. 

The following business loans are available here:

  • SBA loans
  • Lines of credit
  • Business credit cards
  • Construction loans
  • Agricultural financing
  • Warehouse lending

Alternative Forms of Financing in Dallas, TX

Conventional lenders, such as those above, are often the first ones that come to mind when entrepreneurs want to apply for a business loan. They are generally known to offer competitive interest rates and terms. That said, the process to apply and get funded can be difficult and time-consuming. Often, this is time that you just don’t have. 

Today, another option is to apply for financing with an alternative nonbank lender. They are known for their streamlined applications and fast funding times. The tradeoff is typically a shorter repayment period and higher rates. Sooner payoffs, though, could mean less spent in interest overall when compared to the costs you’d accrue for long-term financing.

Applying for Alternative Financing Through Fast Capital 360

Ready to find financing for your Dallas-based business? See what Fast Capital 360 can do for you. Here’s how you’ll benefit.

Speed
A few minutes is all it takes to complete our easy online application.

Multiple Offers
We partner with a nationwide network of reputable lenders, which means you could receive multiple financing offers. 

Expert Guidance
Speak to one of our Business Advisors to review your offers. You’ll be guided through the funding process with expert care.

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Small Business Resources in Dallas

In addition to local small business lenders, consider Dallas organizations that provide tools, training and assistance designed to help entrepreneurs succeed.

Dallas Metropolitan Small Business Development Center

Whether you’re a startup entrepreneur or a veteran business owner, check out this local branch of the national organization sponsored in part by the SBA. Get assistance obtaining business loans and capital to help your cash flow. Also find training and education programs and get help with the following:

  • Accounting
  • Licenses and permits
  • Business plan writing
  • Market research
  • Marketing strategies

Dallas Economic Development

Look to this organization’s Small Business Continuity Fund, which offers $10,000 grants and up to $50,000 in business loans to qualifying businesses. Find resources for businesses impacted by COVID-19 too. Get assistance starting a small business and access helpful data.

The DEC Network

Since 2013, this nonprofit organization out of Dallas has helped small business owners start and build their companies. Find a mentor or search through a wealth of resources for small businesses looking for funding, including grants, or get technical assistance. Other benefits include:

  • Virtual events 
  • Networking opportunities 
  • Coworking space
  • Private conference rooms

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