How to Get a Business Loan in Texas Without Stress

May 15, 2024

Small business owners in Texas understand the importance of having access to financial resources such as loans and lines of credit. However, not every owner has the time to navigate the complex world of business loans.

Fortunately, Texas Gulf Bank offers a wide range of loan programs designed to support small business growth. We couple our offerings with a seamless, efficient loan application process to simplify the effort required for business owners.

Discover how to get a business loan in Texas, the different types of small business loans available, and why working with a local, community-based bank like Texas Gulf Bank is the ideal choice for your business.

Which Loan Option Is Right for Your Business?

A common challenge for small business owners is understanding their available business loan options, the loan qualifications they must meet, and how to prepare the required documentation needed for a loan application. These factors can often discourage business owners from researching and applying for a much-needed bank loan.

With over 110 years of experience supporting businesses throughout the Southeast Texas Gulf Coast region, our bank offers strategic financing options designed to help local businesses through each stage of growth.

We are confident we have a lending program that should fit your business needs. Some of the loan programs available through our bank include the following:

Commercial Real Estate Loans

If your business intends to purchase a new commercial site or refinance an existing property, Texas Gulf Bank offers commercial real estate loans. With a commercial real estate loan, business owners have the ability to fund purchases and land expenses such as:

Owner-occupied commercial real estate
Non-owner-occupied real estate
Acquisition financing for owner-occupied or investment properties
Ground-up construction loans

These loans may allow your business to access the financial support needed to expand or pursue new growth opportunities.

Working Capital Line of Credit

Does your business need support stabilizing cash flow, especially if you experience seasonal fluctuations in revenue collection? A working capital line of credit may help your business cover day-to-day operational expenses and take advantage of growth opportunities.

With the liquidity provided by a working capital line of credit, your business may have the financial resources needed to cover costs such as:

Operational expenses: cover the cost of rent, payroll, taxes, and utilities
Seasonal fluctuations: fill revenue gaps and hire additional staff during busy seasons
Marketing costs: launch marketing campaigns and invest in digital marketing
Inventory management: buy or restock materials and tap into bulk purchasing for lower pricing

Businesses that opt for a working capital line of credit may access a revolving line of credit that is available when needed. This option could help your business stay competitive while navigating unexpected business changes.

Equipment Financing

Equipment financing may be the optimal lending solution if your business growth is hindered by outdated or inefficient heavy equipment or machinery. Equipment loans enable businesses to acquire fixed assets like heavy equipment without jeopardizing cash flow or draining working capital resources.

Equipment loans may be used to finance new or used heavy equipment such as:

Cranes
Excavators
Skid loaders
Articulated trucks
Bulldozers
Compactors
Boom or scissor lifts
Production machinery

An equipment loan from Texas Gulf Bank may help strengthen and expand your business capabilities, putting you on a path toward long-term success.

SBA Loans

Texas Gulf Bank offers Small Business Administration (SBA) loans that are a popular choice for small business owners. SBA loans can support a wide range of uses through two primary loan types.

SBA 7(a) loans

SBA 7(a) loans are a versatile loan option that can be used for various business purposes including owner-occupied real estate purchases and construction, equipment purchases, business acquisitions, working capital, or even refinancing existing debts.

Borrowing businesses may be approved for SBA 7(a) loan amounts of up to $5 million, with repayment terms ranging from 5 to 25 years.

SBA 504 Loans

SBA 504 loans are ideal for small businesses that need to finance or refinance long-term fixed assets, such as owner-occupied real estate purchases, building renovations, or equipment purchases. With the long-term fixed rates available with an SBA 504 loan, this loan option could benefit business owners who need to make a large investment in their infrastructure. SBA 504 loans are generally used for borrowing needs ranging from $1 million to $12 million with loan terms of 10, 20 and 25 years.

Enjoy A Simplified Loan Experience Through Texas Gulf Bank

No matter what lending option fits your current needs, we are ready to provide support. At Texas Gulf Bank, we believe that securing a business loan should be a simplified process for our local customers.

Our local lenders value each client relationship and offer an efficient, streamlined loan review and approval process that may help you achieve your business goals. As a local, community-oriented bank, we stand firm in our commitment to providing personalized service and quality banking solutions.

We also understand the economic diversity of the region, which is why we customize our lending options to fit your specific industry needs. We support companies in many different sectors, including:

Manufacturing
Healthcare
Engineering
Professional Services
Wholesale or distribution businesses
Transportation and aviation
Many other industries across the region

Applying for a business loan begins with an initial assessment to determine loan viability and business qualifications. Potential borrowers will be required to provide financial documentation including but not limited to:

Completed business loan application
Detailed business plan
3 years of business financial statements
3 years of business tax returns
Business debt schedule and full listing of assets
Monthly cash flow projections
Personal financial statements for each guarantor or owner with 20% or more ownership
3 years of personal tax returns

Once we receive all required documentation, our in-house review team will review your loan application and make a prompt lending decision.

How to Get a Business Loan in Texas: Contact Our Lenders to Get Started

We understand that reviewing your business financing options may not be at the top of your to-do list. If you’re ready to learn how to get a business loan in Texas, we are happy to help.

Our team of local lenders can review your current business needs, ask a few questions about your business, and help you determine the right course of action to pursue Texas small business loans.

Contact Texas Gulf Bank today at 1-800-467-7216, visit one of our many local banking centers, or complete our contact form online to get started. We look forward to supporting your business goals.

– If you have other business loan questions or want to learn more about our many banking services or loan options, consider subscribing to our email newsletter. We provide regular updates on business financing solutions so you always stay up-to-date on your options.

All loans subject to credit approval.