Small business loans in Dallas

What financing options are available for small businesses in Dallas? Find out about possible loans and which ones might fit your business.

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Loan types available in Dallas.

Dallas prides itself on being a friend to small businesses—there is no local sales tax nor does Texas collect business income taxes. The city is now a regional hub for conferences and tourism, and its economy has been thriving for years, plus it has some of the lowest cost-of-living expenses of any major American city. Used with an eye toward growth, a small business loan can help your company leverage Dallas’ excellent economy for your own success.

SBA loans

SBA loans are business loans that are partially backed by the Small Business Administration (SBA), a federal agency. These loans are serviced by private lenders, but are popular because they generally have good interest rates.

Line of credit

Use a line of credit as a flexible form of financing. Unlike with a loan, this option does not involve a big disbursement upfront that you must repay, providing a flexibility that better fits many entrepreneurs’ needs.

Term loan

Term loans are common small business loans in which you would apply for a large disbursement of capital and then repays it over several years, along with fixed or variable interest.

Equipment finance

With equipment financing, you receive a piece of equipment and then pay off the cost of the equipment in installments. This way, your business can make money off the equipment immediately, even if you don’t have the funds to buy it at the sticker price.

Accounts receivable financing

Accounts receivable financing is an alternative form of business financing in which your unpaid invoices serve as collateral for a lump disbursement of funds.

Local Dallas business loan options.

Several local organizations provide small business funding resources in Dallas.

Safe Harbor Commercial Capital caters to companies of all sizes and has a notable presence in Dallas, with a long and varied list of business funding options.

The North Texas chapter of the Alliance of Texas Angel Investors is an amazing resource if you are looking for outside funding and your operation is still in its early stages.

PeopleFund is a non-profit aimed at connecting small business owners throughout Dallas and the rest of Texas with business loans.

Business & Community Lenders of Texas has a headquarters in Dallas. As a non-profit focused on building community and economic development, it has several loan options for entrepreneurs.

Four simple steps to funding.

Tell us about your business.

Answer a few simple questions and complete the application in minutes.

Submit your application.

We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.

Compare offers.

Find the funding option with the terms that best fit your small business goals.

Get funded.

Once you accept, funding can hit your bank account in as little as 24 hours.

Speak with a Dallas representative

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FAQs

What other resources are available to Dallas small businesses?

The Dallas Regional Chamber is a phenomenal, nationally recognized resource for small businesses in the Dallas/Ft. Worth area, and you should definitely get in touch if you want to go into business in the region. SourceDallas, a City of Dallas initiative, includes everything you need to know about running a business in the city, as well as information on finding funding and networking. The Greater Dallas Hispanic Chamber of Commerce strives to support, promote, and grow the large number of Hispanic entrepreneurs in North Texas. Dallas is also home to an active chapter of the small business non-profit organization SCORE, and a great Dallas Metropolitan Small Business Development Center (SBDC), a resource organization that is an SBA partner.

What Dallas small business grants are available?

The City of Dallas has set up several Public Improvement Districts (PIDs) in neighborhoods throughout the city and businesses located in a PID receive special property tax assessment considerations and other partnership resources. With the goal of helping businesses find and retain top talent, the Skills for Small Business Grant is offered by the Texas Workforce Commission for companies in Dallas and elsewhere in Texas. Particularly if your company works in early childcare or wildlife conservation, small business owners in Dallas and the rest of the region should routinely check the USGrants.org list of available federal government grants.

How to use a Dallas small business loan?

You can use a small business loan in Dallas to cover business expenses, like opening a new office, hiring more employees, putting up a billboard, or launching a website. You can also use many types of small business loans to help you deal with cash crunches or funding gaps.

What do I need to qualify for a Dallas business loan?

To qualify for a business loan in Dallas, you need to select a corporate structure for your operation, like a sole proprietorship, corporation, or LLC. You then might need to register your business with the Texas Secretary of State, and you might need a license from the City of Dallas, depending on your industry. Once your company is set up as an entity, you can apply for funding. Lendio’s easy-to-use online platform lets you start comparing options in minutes for free. Loan qualifications will differ based on the lender and the type of financing you are seeking, but many financiers will base approval decisions on your business plan, your business history, and your personal credit report.

Ready for funding?

See what you can qualify for on the Lendio Marketplace.

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