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Are you looking for Texas’s best business loans & startup financing companies? If you run a small business in the Lone Star State, you can access different loans to meet your financial needs. You just have to carefully check the offerings and eligibility requirements of various lenders. It’ll help you choose the ideal startup financing option for your Texan business.

You should know that more than 3.2 small businesses are operational in Texas right now. That’s why it’s one of the best states for entrepreneurs, home to some of the most successful founders in the world, like Elon Musk. So, have you decided which loan type you’ll trust now?

Understand the unique features and benefits of different loan types to empower your business. That’s how you choose the best lender for your startup in the modern-day business landscape. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 13 business loans & startup financing options in Texas to get started:

1. Swoop Funding

Swoop Funding is every Texas-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types including traditional term loans and innovative financing options with a simplified funding process. Whether you need half a grand or up to $10 million, Swoop Funding has your back!

2. Wallis Bank

This lender gives you an average rate of interest of 5%. The payout amount is $1.948 million. So, Wallis Bank deserves the #2 spot on this list, right after Swoop Funding. You can easily get SBA loans through this lender for real estate purchasing, equipment financing, or other business needs.

3. Amegy Bank

Amegy Bank has some of the best rates out there in the startup financing market. You can open a line of credit up to $100k. Also, term loans are available up to $250,000. Don’t forget that this lender provides you with same-day decisions and next-day funding if you are borrowing up to $100,000. Let Amegy’s experienced bankers look at your business profile and determine the best loan option for you.

4. ValueBank Texas

At ValueBank Texas, you can get funding for commercial real estate investments. Based in Corpus Christi, TX, you can easily apply for a loan online. ValueBank has 8 other branches in the area. So, you won’t have a hard time getting your business idea financed in Texas.

5. United Texas Bank

For female-owned entrepreneurial ventures and startups founded by a minority group, this bank offers unique SBA opportunities. That’s especially true if you own a business in Collin, Dallas, or Denton County. That’s why the United Texas Bank has earned a stellar reputation in the BIPOC community nationwide.

6. Comercia Bank

This bank gives you an interest rate of 5.48% (on average) while $566k is the average amount of loan approved by it. Moreover, they have a service called Convenient Capital that allows you to take out loans or open lines of credit up to $100k (unsecured & secured) with no tax returns required; your application takes 24 hours for approval and the funding begins in 3 days max.

7. Commercial Bank of Texas

If you have to invest in new commercial properties or office equipment, then you can get ample financing via this provider. This full-service hometown bank will make sure that your business needs are fulfilled without overburdening your budget.

8. Lone Star National Bank

A company in the Lone Star State should consider contacting this lender for startup financing. This lender focuses on helping small businesses in South Texas grow and expand. This lender also has an in-house team that takes your business needs into account, simplifies the approval process, and finds the best loan options that align with your corporate goals. 

9. Texas First Bank

This is yet another loan provider that helps local businesses get the best deals possible. You can apply for SBA loans via this lender and benefit from the following key features:

• Lower down payments
• Longer repayment terms
• Government guarantee
• Competitive interest rate
• Specialized programs
• Can be used for a variety of purposes

10. Frost Bank

Frost Bank offers you an average interest rate of 5.34% while the average loan amount here is $743,000. Also, term loans and commercial credit lines both start at $5k here. For term loans, you can get flexible repayment options (up to 5 years). Also, SBA loans start at $25,000. This is a reason why we’ve placed Frost Bank at #10.

11. Bank of Texas

This bank gives you easy access to SBA 7(a) and 504 loans. The term for the first option is 10 years for real estate purposes; it becomes 25 years in the second option. On their website, they claim to have helped many local businesses refinance their debt or invest in ground-up building & construction for which the Bank of Texas provided millions of dollars.

12. United Midwest Savings Bank

The interest rate of this bank is over 5.90% (on average). Also, $307k is the average amount of loan approved by them. They can approve SBA loans up to $150k in a jiffy. If you need access to monetary funds very quickly, then you should get in touch with this loan provider.

13. First National Bank

With the average interest rate being 5.24%, the mean payout amount at this bank is $528,000. Also, this bank is based in Killeen, Texas, so you can easily get ample financial support from these folks. However, they have not specified what sets them apart from other lenders; that’s why they are ranked so low.

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in Texas. Don’t forget to check out Nevada’s top business loan providers because many of them cater to the needs of Texan startups as well.

Choose a reliable lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors.

Allow Sophisticated Investor to help you find the best lenders in the Lone Star State.