Realize Your Full Business Vision with Texell
Financing and Lines of Credit for All Business Needs
Get to know Texell, an experienced SBA-authorized lender ready to help you achieve business growth and expansion. We can finance commercial real estate purchases, working capital, equipment, inventory, startup ventures and acquisitions, ag business needs, and more.1
The next step starts with Texell.
Frequently Asked Questions:
General SBA loan requirements include:
- Meet the SBA definition of small business.
- Not delinquent on any government loans, including federal student loans.
- Strong personal credit.
An SBA 7(a) loan is a small-business loan issued by a private lender — such as Texell — and backed by the SBA.
To apply, work with our experienced lenders at Texell to complete an application. Texell submits your application package to the SBA to receive the loan guarantee. The SBA sets guidelines for maximum loan amounts, term lengths and interest rates.
General SBA 7(a) loan eligibility criteria include:
- Must be a for-profit business operating in the U.S.
- Must be a small business, as defined by the SBA
- Must have, as a business owner, invested your own time and money into your business
- Must have sought out other forms of financing before turning to an SBA loan
- Must be able to demonstrate the need for a loan and show the business purpose for which you'll use the funds
- Cannot be delinquent on any existing government loans
Real estate investment firms, religious organizations, and gambling businesses are not eligible for SBA 7(a) loans.
Lenders typically want to see an excellent personal credit score (690 and above), solid annual revenue, and at least two years in business.
For major business purchases like real estate or machinery, SBA 504 loans offer long-term financing (up to 25 years). Loans are typically capped at $5 million, but some projects can qualify for up to $5.5 million.
Funding for each 504 loan comes from three places:
- A Certified Development Company (40%).
- A bank or credit union (50%).
- The loan applicant (10%), under certain circumstances, applicants may need to put down as much as 20%.
A commercial real estate loan is a mortgage secured by a lien on a commercial property instead of residential property. Commercial real estate (CRE) refers to owner-occupied or income-producing real estate used for business purposes (e.g., offices, retail space, hotels, and apartments). Commercial real estate loans can be term loans or SBA loans.
Most lenders and Texell require borrowers to have a credit score above 660 to qualify for a commercial real estate loan. You will also need to show at least three years in your business under current ownership.
The 5 C's of Credit and Commercial Lending
If you need a commercial loan, what do lenders look for? It all comes down to the five C’s of credit.