Small Business Financing Options That Bypass Traditional Banks
by Admin
Posted on 09-07-2023 04:28 PM
An essential step in starting or growing a small
business
is securing the funds you need to meet your goals. Small business owners in houston, texas have plenty of financing options to get you started, from traditional banks, business grants, and credit unions to alternative lenders throughout the community. Depending on your type of business and other factors such as personal credit score and projected revenue, there are a variety of sources of financing available to help take your business to the next level. Below, we’ve listed some small business financing options available in houston to launch or grow your business today:.
How SBA helps small businesses get loans
Equity investment - small business investment company (sbic) program
the sba’s small business investment company (sbic) program seeks to stimulate and supplement the flow of private equity capital and long-term loan funds to small
businesses
, which small business concerns need for the sound financing of their business operations and for their growth, expansion, and modernization when such capital is not available in…
business and industrial loans
the purpose of the business & industrial (b&i) guaranteed loan program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rural communities.
This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide….
Get $500 to $5.5 million to fund your business
A contractor acquired a competing, profitable business in the area, resulting in 100% market share and $5. 5 million increase in annual revenues. learn more.
Well, hello there! you must have heard that wheda has received $15 million in federal resources to help small businesses and you want to know more about it. We learned about the funding at the same time you did, so we are working diligently to get our ducks in a row to deploy the funds through our cdfi (that’s the short way of saying community development financial institution) partnership network. We’re working to get our cdfi’s on board so that we can help businesses like yours get the funding you need. Wheda conducted an informational webinar for cdfi partners on april 19, 2023, to provide an overview of the ssbci funding program.
Use for investments in your business, such as expansion projects or large purchases. Get the funds you need upfront with great rates, with the option to apply for more when needed. Loan amounts of $25,000 - $2 million 6 months - 10 year terms ⚡ funding in 1 - 3 days ⚡.
Industrial development bonds (idbs) vsbfa issues tax-exempt and taxable bonds to provide qualifying businesses and 501(c)(3) entities with access to long-term, fixed-asset financing at favorable interest rates and terms. Idbs can fund land acquisition, building construction, and capital asset (equipment) purchases. Eligible borrowers include new or expanding manufacturing companies, “exempt” facilities such as solid waste disposal facilities, and 501(c)(3) entities. Through idbs, creditworthy manufacturers and 501(c)(3) entities can borrow up to 100% of the cost of acquiring, constructing, and equipping a facility, including site preparation. Idbs may also facilitate tax-exempt funding for leased manufacturing facilities and equipment. All projects financed with idbs must meet the federal tax code’s eligibility requirements.
Be a for-profit business
This program offers funding opportunities in the federal innovation research and development arena. Small businesses who qualify for this program work with nonprofit research institutions in the early and intermediate stages of starting up. Find out if the sttr program makes sense for your business.