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LOCATION & INDUSTRIES

Small Business Loans in Texas

  • Apply in under 2 minutes
  • Get funds as fast as 24 hours
  • Applying won’t impact your credit score
By Erin Ryan Social Community Manager, Senior Writer and Editor at Fast Capital 360 Reviewed By Mike Lucas
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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

Did you know Texas was rated as the second-best state for business by Forbes and No. 1 for growth prospects? With a population of nearly 29 million, there’s no surprise that it’s a flourishing epicenter for commerce. 

Success doesn’t just happen overnight, though. Many factors contribute to the prosperity of a business, including funding. 

When you’re looking to beat out your competition, expand or weather a business downturn, a small business loan for your Texas business could help. Here are some lenders and factors to consider.


Small Business Landscape of Texas

There are 2.8 million small businesses in Texas employing 4.8 million workers, according to the Small Business Administration (SBA).

While you might think of Texas for its oil and energy industries, small business employment is greatest in these sectors:

  • Health care and social assistance
  • Accommodation and food services
  • Construction
  • Technical, scientific and professional services 
  • Retail trade

5 Banks for Small Business Loans in Texas

1. Independent Financial

If you’re looking for SBA loans in Texas, visit this bank, based in McKinney. Independent Bank Group (holding company) earned the No. 6 spot on Forbes’ America’s Best Banks list for 2021. 

In addition to SBA loans, you’ll find these funding types here:

  • Energy finance
  • Term loans
  • Lines of credit
  • Commercial real estate loans

2. Comerica Bank

If you’re on the hunt for a business line of credit in Texas, check out Comerica Bank. It’s accredited by the Better Business Bureau (BBB), where it’s earned an A+ rating. The bank has also made Forbes’ America’s Best Banks list. 

Other financing options include these:

  • SBA loans
  • Business credit cards
  • Business term loans
  • Real estate loans
  • Healthcare practice loans

3. Cadence Bank

This bank, which has 13 branches in the state, also made Forbes’ America’s Best Banks list and has an A+ rating with the BBB.

Find the following small business financing in Texas here: 

  • Business term loans
  • Business lines of credit
  • Business credit cards
  • Healthcare practice loans
  • Commercial real estate loans

4. Benchmark Bank

Benchmark Bank is accredited by the BBB with an A+ rating. It’s also earned 5 stars on WalletHub. Branches are available in Greater Houston, Dallas, Plano and Austin.

Small business loans at this Texas bank include the following: 

  • Lines of credit
  • Real estate loans
  • Construction loans
  • Warehouse lending
  • Equipment financing

5. Inwood National Bank

Inwood National Bank has earned an A+ rating with the BBB and a 4-star rating on WalletHub. More than 10 branches are available in Fort Worth and Greater Dallas. Whether you’re looking for a business line of credit in Texas, term loans, letters of credit or equipment financing, you’ll find them here.


How to Get a Small Business Loan in Texas

To get approved for a small business in Texas, you’ll need to make sure you meet a lender’s minimum qualification requirements, including revenue, credit score and time in business.

Conventional lenders, such as the banks above, are often the first place small business owners think of when they’re in search of business financing. While they’re known to offer competitive interest rates and repayment terms, the process to apply and, if approved, get funded can be lengthy and tedious. 

Today, many small business owners, especially those looking for small business loans in Texas for “bad credit,” are turning to alternative lenders. These nonbank lenders are able to offer faster, easier paths to financing by providing different funding products, such as merchant cash advances for Texas businesses. The tradeoff, though, is more frequent payments, shorter terms and higher interest rates. 

  • Apply for Business Funding in Texas Through Fast Capital 360

    When you’re in search of small business financing, Fast Capital 360 can help. SBA business loan rates for Texas businesses start at 6.25% and business term loan rates start at 7%, while merchant cash advance factor rates start at 1.10.

    Here’s how you’ll benefit:

    Speed

    A few minutes online is all it takes to apply for financing. If approved, you could receive funding as soon as 1 day after approval. 

    Multiple Offers

    We work with lending partners around the country. That means more financing offers could come your way. 

    Expert Guidance

    After you apply, speak to a Fast Capital 360 Business Advisor to review the details of your financing offer. Choose the option that works best for you.

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Additional Resources for Texas Entrepreneurs

In addition to top Texas lenders, here are a few organizations dedicated to the success of small business owners in the state.

PeopleFund

PeopleFund was founded in 1994 as a resource for entrepreneurial assistance, 1-on-1 business consulting and education. Today, the organization has partnered with the Tory Burch Foundation Capital Program and Bank of America to provide 2% rate-discounted business loans for women in Texas. Loans must be of $100,000 or less.

LiftFund

If you’re in search of minority business loans in Texas, check out LiftFund, which has given out more than 22,000 small business loans since 1994. The nonprofit partners with lending institutions, including SBA lenders, and offers microloans and small business loans, including financing to minority-, veteran- and women-owned businesses.

SCORE

This nationwide nonprofit has locations throughout Texas, including Houston, Dallas and Austin. There’s also a branch dedicated to serving the East Texas region. Take advantage of 1-on-1 mentoring sessions, networking opportunities, webinars, training workshops and more. Access free resources online, such as business document templates, articles on business-related topics and educational videos.

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