Through the Bank of San Antonio, you can enjoy access to a number of small business loans, including equipment financing, lines of credit, and business construction loans. The bank is also an SBA-approved lender that offers SBA 7(a) and SBA Express loans. Broadway Bank is another local small business financing option. It offers term loans, lines of credit, and SBA loans in addition to iBIZ® Small Business Online Banking, which comes with ACH direct deposit, wire transfers, bill pay, and mobile deposit.

San Antonio’s COVID Impact Grants Program may be an option if your small business is still feeling the effects of the pandemic. You can apply for grants that range from $15,000 to $35,000. Depending on your unique situation, you might also qualify for an extra $10,000 construction impact supplement. There’s also the Skills for Small Business Grant from the Texas Workforce Commission (TWC), which supports small businesses with less than 100 employees who prioritize training opportunities. To find an updated list of other grants in San Antonio and Texas, don’t hesitate to check out Texas GrantWatch.

A San Antonio small business loan can help you get your venture up and running or grow the business you’ve already established. If you take out a term loan, for example, you can put the proceeds towards commercial real estate, marketing, insurance, or inventory. An equipment loan may come in handy if you need to purchase new equipment or upgrade old equipment.

Before you move forward with a San Antonio business loan, decide on a business structure, like a sole proprietorship or LLC. Then, choose your business name and register your business. Don’t forget to obtain any required licenses or permits, register for San Antonio taxes, and apply for an employer identification number with the IRS. Once you complete these steps, you can apply for financing, as long as you meet certain credit score and annual revenue requirements imposed by the lender.