Small Business Administration (SBA) Loans
At Texell, small business gets big business treatment. As an SBA-approved lender, Texell underwrites SBA loans backed by the federal government. Offering 7(a) loans, Express loans, and 504 loans, our Commercial Loan Heroes walk you through every step of the process to ensure you get the right loan to help your business grow.
The Advantage of Choosing Texell for Your SBA Loan:
Texell is an SBA-approved lender, offering both 7(a) and 504 loans.
Experienced Commercial Loan expert to guide you through the SBA process.
7(a) loans up to $5 million
504 loans up to $5.5 million
Generous terms: Up to 10 years for working capital, inventory, and equipment; up to 25 years for real estate
Which SBA Loan is Right for You?
At Texell, we help determine which SBA funding program is right for you. The best SBA loan for you will depend on how you plan to use the funds.
Get a personalized consultation with a local Commercial Loan expert at one of our branches.
Talk with a Commercial Loan expert Monday – Friday, 9 a.m. – 6 p.m.
Frequently Asked Questions:
- Meet the SBA definition of small business.
- Not delinquent on any government loans, including federal student loans.
- Strong personal credit.
- 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
- SBA Form 1919, Borrower Information Form
- Personal background and financial statement (SBA Forms 912 and 413)
- Business financial statements, such as balance sheets, profit and loss statements, and projected financial statements
- Business certificate or license
- Loan application history
- Income tax returns
- Resumes for each business owner
- Business plan
- Business lease
- Be a for-profit business operating in the U.S.
- Be a small business, as defined by the SBA
- Have owner equity to invest
- Already invested personal assets and resources towards the business
- 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%.
- For-profit business operating in the United States
- Net worth of less than $15 million
- Average net income of less than $5 million for the two years before your application
- Three years' business and personal tax returns
- Business and personal financial statements
- Business plan
- Contractor estimates (for construction loans)
- Cost documentation (for equipment loans)
8 Steps for Writing an Effective Business Plan
An effective business plan should be informative and motivating. Here are eight steps to create a plan that will help take your business to the next level.