SBA Loans in Austin

Small Business Loans in Austin

By | SBA Loans in Austin, Texas Commercial Loans

Small business loans in Austin and beyond are a great way to either start operation, to expand a company, or even to rescue a commercial enterprise. Often, these are the best source for capital and have several advantages to them for borrowers. Read on to learn more about small business loans in Austin and beyond.

Small business loans in Austin come in many different forms. These range from tens of thousands of dollars to hundreds of thousands, up to millions of dollars. Of course, there are restrictions. But, in general, small business loans are ideal for a number of reasons.

Some of the most common is the SBA 7(a) loan, the SBA 504 loan, the SBA microloan, along with a few others. The SBA 7(a) loan is intended to supply working capital, purchasing commercial real estate, equipment acquisition, and debt refinancing. The SBA 504 loan is for buying commercial grade equipment, as well as the purchase of the commercial property. Meanwhile, the SBA microloan is for nonprofits and home-based businesses.

SBA loans range from tens of thousands of dollars, up to a maximum of $5 million. Interest rates range from approximately 4.7 percent, up to 8 to 10 percent, and even as much as 13 percent. Also, term lengths range from six months up to a few years, and even several years.

If you have questions about any type of small business loan and qualification requirements, just get in touch with today for all the answers.

SBA Loans in Austin

By | SBA Loans in Austin

SBA loans in Austin vary by rate, term, purpose, and other elements. Although the federal government sets the guidelines and standards for SBA loans, it does not process or administer said dead instruments to businesses. Rather, it relies on traditional banks, credit unions, specialty lenders, and others, to qualify and disperse commercial capital funding. Read on to learn more about SBA loans in Austin Texas and beyond.

SBA loans in Austin, like other parts of the lone Star State, and the country as well, are designed with small businesses in mind, be they established companies or start-up enterprises. Because of this, they are structured for different purposes and therefore carry different term amounts. However, interest rates are generally competitive and there are other factors that make them ideal for small businesses. Here are the three most common types used:

  1. SBA 7(a) loan. This is perhaps the most often accessed type of SBA loan program because it offers commercial capital funding for a variety of purposes. For instance, funds can be used for the acquisition of commercial equipment, to purchase commercial real estate, for working capital, and for other purposes. loan amounts range from $50,000 up to $5 million, and terms can run as long as 25 years.
  2.  SBA CDC/504 loan. This is a more specialized type of SBA loan, being limited to the acquisition of commercial real property, and/or buying commercial-grade equipment. It carries a term as long as 25 years, and loan amounts range from $125,000 up to you, and more than $20 million.
  3.  SBA microloan. This type of loan is reserved for new and start-up businesses, to provide working capital, that ranges up to $50,000.