The capital city of the great state of Texas is Austin, and it’s one of the fastest-growing cities in the entire United States. The city of Austin, in Travis County, has over 975,000 residents, lovingly referred to as Austinites, including a diverse mix of government employees, college students, musicians, high-tech professionals, and blue-collar workers.
Since the 1990s, Austin is emerging as a center for tech and business, with a strong economic background in government, high-technology, and education. Austin is home to a number of Fortune 500 companies’ headquarters and regional offices. The University of Texas at Austin, attended by over 50,000 students, is also located in the bustling city. Austin accumulates thousands of graduates from the University’s engineering and computer science programs each year, providing a steady source of employees that help fuel the area’s technology and defense industries.
Business loans in Austin can be challenging for small businesses despite the city's promising economic outlook. Traditional lending options such as banks or credit unions often have strict requirements and limited alternatives for small businesses. AdvancePoint offers a solution by providing alternative lending options to help Austin business owners find the right financing for their needs without excessive paperwork and stringent guidelines.
Get Small Business Loans in Austin with Ease
As a small business owner in Austin, you have multiple options to secure funding for your company. Although traditional bank loans are popular, online and alternative lenders offer flexible terms that may suit your business needs. Additionally, if you face difficulties acquiring a SBA loan from a bank, there are alternative lending options that provide competitive interest rates.
Advancepoint Capital is a leading provider of business loans in the city of Austin. We offer a variety of business loans and other financing programs with low interest rates. We have a quick and easy application process, and can get you the loan in less than 24 hours!
9 Best Small Business Loans in Austin (May 2023)
Long Term Business Loans in Austin
Long term financing is the choice for Austin businesses planning a large expansion and need to spread those costs out over years because they need affordable payments.
Business Line of Credit
Credit lines are revolving lines of credit. Business owners can draw money on demand with a line at any time and only pay Interest on the outstanding balance.
Short Term Small Business Loans
Short term loans are term loans that are repaid between 4 to 24 months depending on credit approval. Short term loans have higher approval rates and lower documentation than bank financing. Quick application process.
Business Cash Advance
A great alternative to bank financing with approvals based on revenue and less so about credit and profit. Because of limited documentation requirement approval is easier to acquire. All types of credit are considered.
Merchant Cash Advance
An MCA, also known as a future sales agreement, allows Austin business owners to leverage their future credit card sales as a base for an advance. Payment is made by the funder taking a percentage of future credit card sales. Quick approvals and high approval rate.
Equipment Financing
Equipment financing is common for Austin businesses heavily dependent on equipment to operate. Because of the collateral of the equipment, duration of repayment is typically 2 to 7 years which means affordable monthly payments.
Small Business Administration SBA Loans
SBA loans are government backed loans. Popular term loans with affordable rates and terms. Application process requires significant documentation and the help of an approved SBA lender. .
Invoice Financing
Austin businesses who rely on invoicing customers regularly find Invoice financing a great funding solution to improve cash flow, also known as Invoice factoring, this product will advance money to the issuer of the invoice at time of issuance for a nominal fee. This process accelerates accounts receivable without incurring long term debt with a traditional loan.
U.S. Small Business Administration
How to Grow Your Business in Texas
View the Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.
Why Do Austin Small Business Owners Need Financing?
Additional Resources & Loan Programs
Family Business Loan Program - The Family Business Loan Program is a public-private partnership between the City of Austin, HUD, and participating private lenders to offer low-interest loans to qualified small businesses that are expanding and creating jobs. Our mission is to enable existing local businesses to expand and create jobs, revitalize communities, increase the tax base of the City of Austin, and enhance the overall quality of life for Austin residents.
PeopleFund - PeopleFund creates economic opportunity and financial stability for underserved people and communities by providing access to capital, education, and resources to build healthy small businesses.
BiGAUSTIN - BiGAUSTIN has been committed to meeting the unique financial needs of new and existing entrepreneurs since its inception in 1995. As a local non-profit and micro-lender, BiGAUSTIN provides a streamlined loan process that allows for rapid loan decisions. BiGAUSTIN is a Community Development Financial Institution (CDFI) certified by the U.S. Department of Treasury.
Texas Economic Development - The Governor’s Office of Small Business Assistance works closely with a variety of partners to facilitate small businesses accessing capital.
Texas Workforce Training Grants - The Texas Workforce Commission (TWC) offers the Skills for Small Business grant. This supports businesses with fewer than 100 employees and incentivizes training for new, full-time workers. Support is also available to upgrade the skills of existing full-time workers.
Why AdvancePoint Capital?
- Experience with Businesses in Austin – We have been providing financing in Austin for years.
- Trust – Excellent reviews and feedback from Austin small business owners.
- Loan Specialists – Experienced business funding specialists in Austin.
- No Obligation – No cost, no commitment quotes.
- Products – A variety of business loan products for businesses in Austin.
Apply for Austin Business Loan Today!
Finding financing or financial guidance in Austin can be challenging for small business owners. Fortunately, AdvancePoint Capital offers a straightforward solution. Our online application process for small business loans in Austin is quick and easy. Completing a simple online form allows applicants to get funding within a few hours without any hassle or complications.
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.
