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Small Business Administration Loans

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Small Business Administration Express

Small Business Administration

The world of the small business owner is fast paced and always evolving. When it comes to your finances, you need a reliable partner who can help fund your dreams so you can take on the world. With options to help subsidize the business moves you take, Texas Trust Credit Union is that partner to securely get you and your company to the next level.

As an authorized Small Business Administration (SBA) lender, Texas Trust is ready to put you on the path of growth and success. Your options include:

  • 7(a) SBA Loans
  • 504 SBA Loans
  • SBA Express Loans
  • SBA Commercial Vehicle Program

Selecting the Right Type of Small Business Loan

Starting a business can be an intimidating and scary process. But we at Texas Trust want to make it less scary and more manageable for you. When thinking of your financial plan for funding your business, there are many options out there to consider. Business loans are not created equally. What type of business loan should I get? Which business loan is right for me? Those questions are answered in these tables:

SBA Loan Types
Loan Type Benefits to Borrowers
7(a) Loans
  • Long-term financing
  • Improved cash flow
  • Fixed maturity
  • No balloons
  • No repayment penalty (under 15 years)
SBA Express Loans
  • Fast turnaround
  • Streamlined process
  • Easy-to-use line of credit
504 Loans
  • Low down payment – equity (10, 15, or 20 percent) (The equity contribution may be borrowed as long as it is not from an SBA loan)
  • Fees can be financed
  • SBA/CDC Portion:
    • Long-term fixed rate
    • Full amortization
    • No balloons

Who Qualifies

Just like every entrepreneur and business is different, so are the types of small business loans that are available to business owners. Wondering what loan you qualify for? This chart will help determine which business loan matches your credentials:

Who Qualifies
Loan Type Who Qualifies
7(a) Loans Must be a for-profit business and meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.
SBA Express Loans Must be a for-profit business and meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.
504 Loans Alternative Size Standard:
For-profit businesses that do not exceed $15 million in tangible net worth, and do not have an average two full fiscal year net income over $5 million.

Use of Loan Proceeds

Before getting your SBA loan, you want to make sure that your loan will fit its purpose for your small business. Not every SBA loan will fit all instances, so take a look at this chart to discover how you can use the funds you receive from your small business loan:

Who Qualifies
Program Use of Proceeds
7(a) SBA Loans Term loan. Expansion/renovation; new construction, purchase land or buildings; purchase equipment, fixtures, lease-hold improvements; working capital; refinance debt for compelling reasons; seasonal line of credit, inventory or starting a business.
SBA Express Loans May be used for revolving lines of credit (up to 7-year maturity) or for a term loan [same as 7(a)].
504 SBA Loans Long-term, fixed-asset loans; Lender (non-guaranteed) financing secured by first lien on project assets. CDC loan provided from SBA 100% guaranteed debenture sold to investors at fixed rate secured by 2nd lien.

Want to speak to a loan officer? Ready to apply for your Small Business Loan? Contact us now.

To learn more about SBA loans, visit the Small Business Administration's website.

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