Commercial Lending – Austin TX From Construction Loans and Equipment Leasing, to Mortgage Loans and more – Elan Capital – A Texas-based lender.
Commercial Lending – Austin TX
Elan Capital is the lender of choice for businesses throughout Texas. With offices in Austin, Dallas, Houston, San Antonio, El Paso and Lubbock, we work with local businesses, in person, so you can get the funding you need to start, grow, and expand your business.
Elan Capital, Inc, serves the Texas small business market by providing small business loans and commercial lending for virtually any project or need; start-ups, business acquisitions, real estate, expansion, construction, remodels, refinance, franchises, equipment, inventory, furniture, fixtures, lines of credit and working capital.
Small business loans off all types here in Austin. One call. Dozens of lenders competing for your business. Personal service. Transparent.
And while the online sites each have their own lenders, Elan has direct access to over over 75 traditional and alternative lending sources.
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 more traditional 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.
In short, Elan Capital can match you with lenders looking for businesses just like yours.
Commercial Lending – Austin TX – Elan Capital
General Types of Business Loans and Commercial Lending here in Austin By Elan
- 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.
Finding the right source for quick capital and fast business loans in Texas is the first step in the process, the second step is to contact the experts at Elan Capital today to investigate all your options.
You might be surprised at what you’ll find when you work with the leader in small business lending in Texas.
Today, with one free phone call, you can have dozens of lending sources competing for your loan.