Elan Capital has dozens of lenders that can provide Fast Business Loans in Austin. Even better, we are local. The best business loans in Austin Texas.
Business Loans in Austin Texas – Elan Capital Inc.
- Startup Loans
- Business Loans
- Lines of Credit
- Working Capital
- Professional Practice Loans
- Merchant Cash Advance Loans
- Equipment Leases
- Receivable Factoring
- SBA Loans
- and more…
Business Loans in Austin TX – Texas Lending Redefined
Elan Capital Inc brings together the personal service that banks were once known for, with the speed and accuracy of the new FinTech (online) marketplace where you never actually get to talk to anyone.
Elan has offices throughout Texas – Here in Austin as well as Dallas, Houston, San Antonio, El Paso and Lubbock.
And Elan Capital has direct access to dozens of lenders in the US, Canada and the UK. There is a very good chance that one of them is looking for a customer just like you.
General Types of Business Loans in Austin that Elan Offers;
- Working Capital Loans: Working-capital loans are designed as short-term solutions for businesses in need of money to help run their operation. Working-capital loans are available from most alternative lenders. The advantage of a working-capital loan is that it gives small businesses the ability to keep their operations running while they search for other ways to increase their revenue. Some downsides of a working-capital loan are that they often come with higher interest rates and may have shortened repayment terms.
- Equipment Loans: Many of the alternative lenders Elan utilizes, offer their own types of equipment loans and leases. Equipment loans and leases provide money to small businesses for office equipment, such as copy machines and computers, or things such as machinery, tools and vehicles. Instead of paying for the large purchases all at once up front, equipment loans allow business owners to make monthly payments on the items. One benefit of equipment loans is that they are often easier to obtain than some other types of loans because the equipment being purchased or leased serves as collateral. Equipment loans preserve cash flow since they don’t require a large down payment and may offer some beneficial tax write-offs.
- Merchant Cash Advance: This is a common type of loan made to businesses based on the volume of its monthly credit/debit card transactions. Businesses can typically receive an advance on their monthly transaction volume, sometimes even more. The terms for repaying a merchant cash advance vary by lender. Some alternative lenders take a fixed amount of money out of a business’s merchant account every day, while others take a percentage of the daily credit card sales. The best candidates for merchant cash advances are businesses with strong credit/debit card sales, such as retailers, restaurants and service type businesses. The advantages of merchant cash advances are that they are relatively easy to obtain, funding can be received in as quickly as a few days, and the loan is paid back directly from credit card sales.
- Business Lines of Credit: Much like working-capital loans, lines of credit provide small businesses money for their day-to-day cash-flow needs. These are not recommended for larger purchases (such as vehicles and machinery), and are available for as short as 90 days to as long as several years. With a line of credit, you take only what you need and pay interest only on what you use, rather than the entire amount. These loans are usually unsecured and don’t require any collateral. They also have longer repayment terms and give you the ability to build up your credit rating if you make the interest payments on time.
- Professional Practice Loans: Professional practice loans are designed specifically for providers of professional services, such as businesses in the insurance, health care, accounting, legal, engineering, architecture and veterinary fields. These types of loans are typically used for buying real estate, purchasing an existing practice, renovating office space, buying new equipment and refinancing prior debt.
- Franchise and Business Startup Loans: Franchise startup loans are designed for entrepreneurs who need financing to help open their own franchise business. These loans, can be used for working capital, or to pay franchise fees, buy equipment and build restaurants and stores. Elan has New Business Startup Loans and funding here in Austin.
And with offices in Dallas, Houston San Antonio, El Paso, Lubbock and Austin, Elan Capital is ready to help you today.