The city of San Antonio, TX, is the 7th most populous city in the United States and the 2nd most populous city in the southern United States, with more than 1.5 million residents.

San Antonio has a gross domestic product (GDP) of approximately $96.8 billion, which ranks 38th in the United States. San Antonio’s economy focuses primarily on military, health care, government-civil service, financial services, oil and gas, call centers, manufacturing, and tourism.

How to Get Small Business Loans in San Antonio, Texas

Traditional banks can be difficult to deal with due to their high credit standards and financial statement requirements. Without a 3-year plus track record of showing profit for your small business and strong revenue streams, it will be challenging to get loans. You also will be up against stacks of paperwork, long approval times, and possibly being denied due to credit scores. If you’ve faced with these challenges, AdvancePoint Capital can help provide business loan financial solutions to you through a search of our business lender marketplace service.

The 8 Best Small Business Financing Options for San Antonio, Texas

1. Long Term Small Business Loans for San Antonio, Texas

If you are in search of long term financing, then search no more. Long-term, small business loans offer a lump sum to small businesses that need a financing option for 2 to 10 years. Rates and fees can be competitive and affordable, but this product will require financials and additional paperwork. Credit must be good to qualify.

Product Overview

Rates: Interest rates starting at 6%

Terms: 2 to 5 years, up to 10 years with excellent credit

Fees: Origination fees range from 0% to 3%

Payments: Monthly or bi-weekly payments

Credit Standards: Good to excellent credit accepted, all credit considered

Documentation: Standard documentation: bank statements, financial statements, business tax returns

Time Frame: Approval for funding can be 2 to 5 days

Benefits and Best Uses of Long Term Small Business Loans

The benefit of long-term, small business loans is the length of time of repayment that provides for lower monthly payments. The longer the term, the more money that can be offered to small businesses. The main reason San Antonio small businesses turn to long-term business loans is for expansion or long-term projects that need to be financed to protect cash flow.

Learn More

2. Small Business Line of Credit for San Antonio, Texas

Small Business lines of credit are a flexible business finance option that provides you a draw of funds on demand at a moment’s notice. The business line of credit is the type of solution that operates like a credit card. You can draw money on demand up to a credit limit. The credit requirements are for good to excellent credit borrowers.

Product Overview

Rates: Interest rates starting at 6%

Terms: Open revolving credit line that is renewed semi-annually or annually

Fees: Origination fees range 0% to 3%

Payments: Monthly, bi-weekly or weekly payments

Credit Standards: Good to excellent credit accepted, all credit considered

Documentation: Reduced documentation: 1-page application and three months of bank statements, sometime financial statements will be required depending on the credit limit.

Processing Times: Approval of funding can be 1 to 3 days

Benefits and Best Uses of Small Business Line of Credit

Flexibility is the main reason San Antonio small businesses choose small business lines of credit. The fact that you can draw from the business line at any time as long as you are below the credit loan limit makes it unequaled in convenience and can provide help when in a bind.

3. Short Term Small Business Loans for San Antonio, Texas

When traditional business loans are not an option, short-term, small business loans are there to pick up the slack. They provide a fixed specified amount of money with a fixed payback amount calculated using a factor rate over a fixed amount of time (typically 6 to 18 months). Rates are not principal and interest, but are based on a “factor cost”. These products require very little paperwork and credit requirements are much more forgiving than traditional business loans.

Product Overview

Rates: Factor rates range from 1.09% up to 1.45%

Terms: 6 to 18 months in duration (typically 12 months or less)

Fees: Origination fees range from 0% to 5%

Payments: Weekly, bi-weekly and in some cases daily 

Credit Standards: All credit considered. 

Documentation: Reduced documentation: 1-page application and three months of bank statements required

Processing Times: Same day

Benefits and Best Uses of Short Term Small Business Loans

Short-term, small business loans are a great option when you can’t get approved for more traditional small business loans. Short-term business loans can come in handy for the business that is in need of the money now for cash flow or working capital.

4. Business Cash Advance for San Antonio, Texas

Business cash advances are also known as a purchase of future sales agreement or a merchant cash advance. A business cash advance provides a fixed sum of money (purchase amount) upfront to a business with a fixed payback amount. The advance is repaid by taking a fixed percentage of future overall sales deposits. Payments are collected by an ACH fixed daily or weekly from a business bank account, which is based on the fixed percentage of future sales. 

After every month, reconciliation can be conducted. If the fixed payments taken are more than the set future percentage of sales, then a refund back to the merchant can occur. This repayment process continues throughout the length of time it takes until the payback amount is paid back in full. Therefore, there is no term limit with advances as the fixed payback percentage changes. A business cash advance is not a loan, but and an advance of the future sales of the business.

Product Overview

Rates: Factor rates range from 1.09% up to 1.45%

Terms: No term limits (payoff depends on future sales)

Fees: Origination fees range from 0% to 5%

Payments: Fixed ACH payments are weekly or daily 

Credit Standards: All credit considered

Documentation: Reduced documentation: 1-page application and three months of bank statements are all that is required.

Processing Times: Approval same day to 24 hours

Benefits and Best Uses of Business Cash Advance

Business cash advances are a great alternative when you can’t get approved for traditional business loan financing, and you need financial help. The most common uses are cash flow and working capital.

5. Merchant Cash Advance for San Antonio, Texas

A merchant cash advance is also a type of purchase of future sales agreement and is similar to a business cash advance. The biggest difference is that repayment is attached to future credit card sales by taking a set percentage of future credit card sales at the time of batch until the advance is paid back in full. A merchant cash advance is not a loan, but an advance off of future sales of the company.

Product Overview

Rates: Factor rates range from 1.09% up to 1.45%

Terms: No term limits (payoff depends on future credit card sales)

Fees: Origination fees range from 0% to 3%

Payments: Set percentage of future credit card sales at the batch time

Credit Standards: All credit considered

Documentation: Reduced documentation: 1-page application, three months of processing statements, and three months of bank statements are all that is required.

Time Frame: Same day to 24 hours

Benefits and Best Uses of Merchant Cash Advance for Small Businesses

Merchant cash advances can help when small businesses cannot get approved for traditional business financing and would like a flexible repayment process that follows sales volumes. Documentation and credit requirements are less than traditional business financing due to the repayment method. They are a great option that will provide cash flow or working capital needs.

Learn More

6. Equipment Financing for San Antonio, Texas

Equipment financing can help businesses purchase that all-important equipment to help the business function or expand product offerings and improve efficiencies. Equipment financing uses, as security, the collateral of the equipment to secure the credit terms.

Product Overview

Rates: Factor rates starting at 1.09% up to 1.45%

Terms: 2 to 7 years

Fees: Origination fees ranging from 0% to 3%

Payments: Monthly payments

Credit Standards: Good to excellent credit accepted, all credit considered

Documentation: Reduced documentation: 1-page Application and equipment specifications, name of distributor, manufacturer, or dealer selling equipment.

Time Frames: Same day to 24 Hours

Benefits and Best Uses of Equipment Loans for Small Businesses

Equipment financing uses the equipment as collateral to effectuate a purchase or lease of equipment. This loan or lease can help the company finance equipment for longer terms than other business loans that don’t use equipment as collateral. This small business finance option is for small businesses that rely on heavy or expensive equipment such as healthcare and manufacturing industries.

Learn More

7. Small Business Administration (SBA) Loans for Small Business in San Antonio, TX

The Small Business Administration (SBA) is not a lender, but provides guarantees to approved lenders, by providing small business loan programs and guidelines for businesses throughout San Antonio. The Small Business Administrations’ mission is to help the small business community by developing programs that help small businesses with resources and financial assistance to their businesses. While the Small Business Administration is not a lender themselves, they provide guarantees to those approved lenders to recover a certain percentage of the business loan if it were to default.

Small Business Administration (SBA) loans are highly sought after by small businesses but are difficult to obtain because of high credit and financial standards. AdvancePoint Capital can assist you through the entire process to make what is difficult, seem simple. The SBA has also established the SBA Paycheck Protection Program loan for small businesses affected by the COVID-19 crisis. This SBA loan program will help those small businesses retain their employees through a forgivable loan as long as they can retain those employees for eight weeks after funding. Otherwise, the SBA loan program will convert to a loan after a 6-month deferment at a 1% interest rate for two years in duration.

Small Business Administration (SBA) Loan Programs for Small Businesses in San Antonio, TX

The SBA standard 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loans to small businesses.

Product Overview

Maximum Loan Amount: 5 Million

Type of Funding: Revolving lines of credit up to 10 years

Collateral: Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount. If business fixed assets do not “fully secure” the loan, the lender may include trading assets and must take available equity in the personal real estate (residential real estate and investment real estate) of the principals as collateral.

Use of Funds: Access to working capital

The SBA 504 loan program is a powerful economic development loan program that will provide small businesses another avenue for business financing while promoting business growth and job creation. SBA 504 loan program is typically structured with SBA 504, providing 40% of the total project costs, a participating lender covering up to 50% of the total project costs, and the borrower contributing 10% of the project costs. Under certain circumstances, a borrower may be required to contribute up to 20% of the total project costs. 

Total SBA 504 loan program projects costs for a project may include the following (eligibility requirements apply to the 504 portions of the project as well as the participating lending portion):

  • Building Purchase
  • Land (Real Estate)
  • Renovation
  • Furniture and Equipment
  • Soft Costs

The use of proceeds from SBA 504 Loans must be used for fixed assets (and certain soft costs), including:

  • The purchase of real estate (existing buildings)
  • The purchase of land and land improvements, including grading, street improvements, utilities, parking lots and landscaping
  • The construction of new facilities or modernizing, renovating or converting existing facilities
  • The purchase of long-term machinery* 
  • The refinancing of debt in connection with an expansion of the business through new or renovated facilities or equipment

In addition, the 504 loan program can also be used to refinance existing debt that is:

  • Outstanding for at least two years
  • Owed by a business in operation at least two years
  • Current on all payments for the last 12 months
  • Originally used substantially (85% or more) to finance eligible 504 uses (see above)
  • A non-federal loan

*Note: The Small Business Administration SBA 504 loan Program cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing (except for projects with an expansion component or that meet the temporary refinancing provisions of the Small Business Jobs Act of 2010). To qualify, an applicant must create (provide) or retain one job for every $65,000 financed by SBA or meet one of SBA’s community development or public policy goals. Consult your SBA approved lender for more details

Advantages of the Small Business Administration’s SBA 504 Loan Program for San Antonio Business

  • 90% financing
  • Longer loan amortizations, no balloon payments (up to 20 years)
  • Fixed interest rates

Product Overview

Rates: Interest rates range from 6% to treasury index plus 1% to 2.5%

Terms: 3 to 25 years

Fees: Origination fees range from 0% to 3%

Payments: Fixed monthly payments

Credit Standards: Good to excellent credit accepted. all credit considered

Documentation: Full documentation: Application, six months of business bank statements, two years of business tax returns. Year to date profit & loss, balance sheet. More documents may be requested upon review

Time Frame: Approval in 1 week or up to 30 days

 Benefits and Best Uses of Small Business Administration (SBA) Loans for Small Businesses

Small Business Administration (SBA) loans are highly desirable as they offer great rates and terms. The main use of Small Business Administration (SBA) loans are business expansion and capital for large long term projects. 

Learn More

8. Invoice Financing for San Antonio, Texas

Invoice financing can help businesses that are in search of cash quickly and can’t wait on outstanding invoices to be paid by their clients. Invoice financing companies advance the invoice and collect it directly from the clients. This is a great option for maintaining good cash flow for the business for a nominal fee.

Product Overview

Rates: None 

Fees: Advance fees of .05% to 2.5%

Credit Standards: Creditworthiness of the client is evaluated, not the business owner

Documentations: Reduced documentation: Client information, accounts receivable’s aging reports, copy of invoices, and client roster.

Processing Time: Same day invoice advances. Takes a week or 2 to approve new clients

Benefits and Best Uses of Invoice Factoring

Invoice financing allows a 3rd party, the invoice finance company, to handle the collection process and advance invoices the same day instead of waiting for the terms of the invoice, which are 30, 60, 90 days, or more. This is a great way to maintain good cash flows.

Learn More

The fast, convenient and straightforward way to get the money you need for your business – now! Get Your Quote Today by filling out our simple form.

Frequently Asked Questions

Why Does Your San Antonio, TX Business Need a Business Loan?

It’s important to identify what the purpose of acquiring business loans is for your business. Let’s take a look at some common reasons why small businesses need business loans.

  • Working Capital        
  • Cash Flow shortages        
  • Equipment        
  • Business Expansion        
  • Emergencies        
  • Advertising

Are Business Loans in San Antonio, Tx Difficult to Obtain?

The short answer is no. There are many business financing products available in the business finance marketplace. Make sure your search for a company that has a marketplace of options so you can get the best available business financing product for your need. 

Can I Qualify for a Business Loan in San Antonio If I Have Bad Credit?

Business financing is available if the business owner has bad credit. The credit rating will limit business funding options, and the rates, costs, and terms may be affected. 

Can I Get a Business Loan With No-Docs for My San Antonio Business?

The only type of business credit that does not require documents in most cases are business credit cards. There are many business products available with reduced documentation requirements.

Can I Get a Start-up Business Loan in San Antonio? 

Small Business Administration (SBA) Loan does provide money for start-up businesses, but collateral and personal guarantees will be required. We also suggest private investors or angel capitalists for start-up business loans. Keep in mind, your search for start-up money will take time and require really good planning and explanation, so be prepared. 

Does Every Member of a Corporation Have to Apply for a Business Loan for My San Antonio Business?

In most cases, a majority (over 50%) of member(s) and/or shareholder(s) of an LLC or corporation must apply and sign finance agreements. Some business loan products require every member or shareholder to apply and sign any business finance agreements. Consult your business loan originator or lender for more details related to this question.

The Bottom Line: Advice, Tips, and Warning’s About San Antonio Business Loans

San Antonio small businesses should always start their business financing search by asking important questions before financing their business. The first question is simple, Why? 

  • What is the purpose of getting a loan for your business? 
  • Is the need for capital a short-term problem or long-term project? 
  • Is this an emergency, or will you need working capital throughout the business’s life? 
  • Will your business always need a credit facility due to the nature of your business? 
  • What challenges does the business have in getting approved? (Credit issues, bank statement cash flow issues, time in business, financial statement issues)
  •  Do you have the financial insight to find the right business loan for your need?

Consider the questions above when choosing the business funding solution and lender because the answers to those questions lead to different business loans. AdvancePoint Capital can help you through this search in an easy and painless way without wasting time or–more importantly–money.

How to Get a Small Business Loan in San Antonio, Texas?

Looking for financial help to find a loan for your company? Applying for a loan with AdvancePoint Capital is as simple as 1, 2, 3. Start with this online form, then fill out the short application page, wait a few hours for your approval, and then get your money!

The fast, convenient and straightforward way to get the money you need for your business – now!

Get your Quote Today by filling out our simple form.

 

Get Quote Now!

* All loans made by either WebBank, an FDIC-insured Utah industrial bank, or Bank of the Internet Federal Bank, an FDIC-insured federally chartered thrift located in California. In connection with the loans, the Banks' underwriting conditions and terms apply.