Small Business Loans and Commercial Lending in Austin TX – Fast, transparent loans for nearly every type of need. Low rates and in-person service from Elan.
Commercial Lending in Austin TX
Elan Capital offers the widest variety of commercial loans to fit the needs of nearly every type of business here in Austin.
Are you tired of waiting for your bank’s loan committee to answer your financial needs? We work with you to make the process simple, straightforward, affordable and most importantly, fast.
Elan Capital has offices in Houston, Dallas, San Antonio, Lubbock, El Paso, and Austin.
And Elan has direct access to dozens of lenders.
For instance, some lenders specialize in low credit scores, while others focus on start-up loans, franchise and new business loans. We have lenders that concentrate on ultra-fast microloans, while other lenders we utilize prefer lines of credit, or short/ long term loans. Also, a handful of our lenders concentrate on working capital loans or unsecured business loans, while others specialize in merchant cash advance and factoring.
Additionally, a few lenders primarily target construction loans and real estate loans, while others focus primarily on leasing and its related tax benefits. And some even focus on various different types of businesses, such as Professional Practices, Farming/Agricultural, Health Care and more. And Elan has SBA loan programs as well.
As an independent entity, Elan Capital is not tied to one lender and instead, we can have many lenders working their hardest, to gain your business.
While Elan has dozens of lenders and 100’s of different programs, small business financing can be broken down to seven main “categories”.
General Types of Business Loans and Commercial Lending in Austin TX
- Term loan is a lump sum you borrow and repay on set terms, including the annual percentage rate. Long Term and Short term loans generally have a specific amount that has a specified repayment schedule and a fixed or floating interest rate. This is generally the least expensive type of financing.
- 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 business 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 slightly higher interest rates and may have shortened repayment terms.
- Equipment Loans: Many alternative lenders offer equipment loans. 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 many loans and leases may offer some beneficial tax write-offs.
- Merchant Cash Advance: This type of loan is generally made to a business 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: Like working-capital loans, lines of credit provide small businesses money for day-to-day cash-flow needs. These are not recommended for larger purchases such as vehicles and heavy machinery which are better covered by leases, 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: These 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 even refinancing prior debt.
- Franchise and Business Startup Loans: Franchise startup loans are designed for entrepreneurs who need financing to help open their own franchise or small business. These loans, can be used for working capital, or to pay franchise fees, buy equipment and build restaurants and stores. While online lenders generally want to see a year or more in business, Elan Capital has access to several programs that lend to new business, even before you open your doors.
Elan Capital Inc, has many subsets including;
- UNSECURED BORROWING
- FACTORING RECEIVABLES
- WAREHOUSE FINANCING
- ACCOUNTS RECEIVABLE
- AGRICULTURAL LOANS
- FLOORING LINES
- MACHINERY LOANS
- INSURANCE AGENCY LOANS
- MEDICAL PRACTICE LOANS
- WORKING CAPITAL LOANS
- GOVERNMENT GUARANTEED LOANS
- INTERNATIONAL LOANS
- ACQUISITION LOANS
- EQUIPMENT LEASING
- BUSINESS START-UP LOANS
- COMMERCIAL PROPERTY LOANS
- CONSUMER RETAIL CREDIT
- SBA LOANS
- INVENTORY LOANS
- AND MUCH MORE
Elan Capital provides fast small business loans and commercial lending in Austin TX. We have direct access to dozens of different lenders, throughout the US, Canada and the UK and hundreds of different programs.
In short, we can match you with a lender that is looking for customers just like you.