Bank Said No? Elan has dozens of lenders looking to help with Houston Small Business Loans – Call the leader in Texas business lending. Elan Capital.
Houston Small Business Loans
An essential issue that any small business or new business start-up faces is raising capital to operate, and more importantly, grow. But securing a loan from a traditional bank can be nearly impossible for a start-up or small business with a limited operating history. Or, maybe you only need a small amount ranging from $25k to $250K. Traditional banks aren’t interested anymore in lending at those levels. And worse, it will eat up months of your time.
Houston Small Business Loans – Here are two eye-opening facts.
In 1995, 51% of traditional bank loans were to small business. In 2012 it was 29% and recent studies suggest it’s now fallen well below 25%.
Meanwhile the average loan amount has increased tremendously.
In short, banks are loaning to big business and corporations, not to small business. Again, in 1995, the average small business loan from a traditional bank was for $53,000.
In 2016 it was $713,000.
If you are looking for small business loans in Houston, it may seem like the deck is stacked against you.
Deal Yourself a New Hand.
Houston Small Business Loans – Redefined
Elan Capital combines the “fintech” of online lending with the personal attention of banking days gone by. With custom terms designed to fit any budget, as well as funding quick enough to solve nearly any financial situation, a loan from one of our dozens of lenders can help practically any company achieve a better position here in Houston. When you think of Houston small business loans, think Elan Capital – The Leader in Texas small business loans.
Elan Capital provides businesses throughout Texas with fast, flexible funding, and a much easier approval process.
And when you connect with an Elan Capital Funding Specialist, you gain access to small business lending programs across the United States as well as Canada, Australia, South America, and the U.K.
Best of all, these funding sources are monitored daily for the best interest rates and terms available to your business.
Houston Small Business Loans – We’ve Done the Research For You
Unlike the many online vendors, Elan Capital is not beholden to just one or two financing companies.
That’s not how we do thing here.
We’ve done the research for you. Elan has has direct access to dozens of alternative financing sources with hundreds of different lending programs.
Because there is no one size fits all here in Texas. Every business is different, even in the same industry.
General Types of Business Loans and Commercial Lending
- 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.
And it doesn’t stop there. Construction loans, inventory loans, factoring loans, agricultural loans and so much more.
Elan can also help you get an SBA loan if needed, though that takes some time and effort, and if you need financing quickly, we have plenty of faster options.
- UNSECURED BORROWING
- INVENTORY LOANS
- 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
- SBA LOANS
- AND MUCH MORE
Houston Small Business Loans – Done Right! But not just Houston….
With offices in Houston, Dallas/Fort Worth, San Antonio, Austin, El Paso, and Lubbock, Elan combines small business lending in Texas with a personal touch not found “online”.
Additionally, as an independent entity, Elan is not tied to one lender and instead, we can have many lenders working their hardest, to gain your business. No hidden fees. Fast commercial lending in Houston.