Elan Capital has access to dozens of alternative lending sources as well as SBA loans. Call the experts in small business financing in Dallas – Elan Capital.
Small Business Financing in Dallas
Elan Capital, Inc, serves the Texas small business market by providing commercial and small business financing in Dallas for virtually any project or need; start-ups, business acquisitions, real estate, expansion, construction, remodels, refinance, franchises, equipment, inventory, furniture, fixtures and working capital.
The Market Meltdown of 2007 had a tremendous effect on small business lending.
And nearly a decade later, it has never even come close to recovering to pre-crash levels.
Karen Mills, a senior fellow at Harvard and former SBA Administrator states in perfectly in a recent report
“Financial crises tend to hit small firms harder than large firms. As the academic literature underscores, small firms are always hit harder during financial crises because they are more dependent on bank capital to fund their growth. Credit markets act as a “financial accelerator” for small firms, such that they feel the credit market swings up and down more acutely.”
We have written about the Main Street Credit Gap, but it bears repeating. A $2 million bank loan, costs pretty much the same to process as a small business loan for $150,000. Except that the return is better for the bank on the bigger loan.
The current reality is only about 20% of small business loan applications get approved at the top 10 traditional banks, and it’s becoming a rare event at smaller banking institutions as well.
If you read the entire Harvard Business Review article, you see Mills hits the nail on the head writing “The banking industry in the aggregate appears increasingly less focused on small business lending.”
There is an alternative. It’s an easier application. It’s far faster, both in decisions and funding.
Small Business Financing in Dallas – Elan Capital, Inc.
Elan has access to dozens of lenders offering;
- 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 alternative lenders offer their own types of 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 may offer some beneficial tax write-offs.
- Merchant Cash Advance: This type of loan is 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 (like 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 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.
- SBA Loans – Want help navigating the available SBA financing options and submitting your SBA loan application? Elan can help connect you with the lenders you need!
And it doesn’t stop there. Construction loans, inventory loans, factoring loans, agricultural loans and so much more.
Small Business Financing in Dallas – Done Right – Elan Capital, Inc.
- INVENTORY LOANS
- UNSECURED BORROWING
- FACTORING RECEIVABLES
- WAREHOUSE FINANCING
- ACCOUNTS RECEIVABLE LOANS
- 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
If you are looking online for small business financing in Dallas Texas, how do you choose from so many vendors and platforms? How do you research the most trusted sources, how do you avoid hidden fees? What are the customer service issues?
We’ve done the research for you.
Unlike the many online vendors, Elan Capital is not beholden to one or two financing companies.
Oh, no. We have 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.
Some financing companies specialize in low credit scores, while others focus on start-ups, specific industries, etc. Because Elan Capital has so many financing sources, we have the right solution at the right time for virtually any business owner.
The best of both worlds.
Back in the day, your bankers handled you checking account, savings, car loans, business and personal loans, college loans and more. They knew your name and had lollipops for your children (who they also knew by name).
While those day have largely disappeared, Elan keeps the personal, human touch and applies it to the new online world of alternative lending.
With offices in Dallas/Fort Worth, San Antonio, Austin, Houston, El Paso, and Lubbock, Elan combines small business alternative 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. All your questions answered. No hidden fees.
At Elan Capital, we understand that business owners here in Texas, simply needed a better way to fund their business. Elan supports growing businesses by providing credit when you need it without the hassle. We add value and our relationship grows as your business grows.
Today, with one phone call, you can have dozens of lending sources competing for your loan.