Houston SBA Loans
When you are looking for loans for your small business in Houston, make sure to consider Mercantil Bank. Since 1979, we have provided commercial banking services to businesses. However, we haven’t forgotten our commitments to small businesses.
Mercantil Bank is dedicated to supporting local Houston businesses. We make all of our lending decisions locally so that your small business gets access to the funds that you need quickly. In addition, because we are local, we can also develop long term relationships with the small businesses that we support. Unlike mega-banks, which simply think of your business as just another account, Mercantil Bank will become your partner for success.
Our loan offerings include Small Business Administration (SBA) loans to help finance small business needs. For example, you can use SBA loans to purchase property, expand your operations, renovate business facilities and more. Our lending agents will work with you to determine the best SBA loan product for your business needs.
SBA Loans in Houston
Get the financing you need to start or expand your business with an SBA loan from Mercantil Bank. We offer many SBA loans products, including:
SBA-7(a) loans. SBA-7(a) loans are available from Mercantil Bank up to $2 million and if the borrower defaults, the SBA pays off a 75% guaranteed portion of the loan. These loans are based on the small business’s income-producing activities, its leadership team and the business’s location. For-profit businesses in Houston must demonstrate need and provide evidence that the funds will be used for business purposes in order to be eligible for these loans.
CDC/504 loans. The SBA offers CDC/504 loans to businesses for the purposes of financing new construction (up to 90% of the purchase price) or renovation projects. In order to be eligible for a CDC/504 loan, the business owners must show that the property financed by the loan will be 51% owner-occupied.
SBA Express loans. SBA Express loans are available to business owners with a turnaround time of 36 hours and loan amounts of up to $350,000. The repayment terms for these loans can be negotiated up to 7 years.
Minority-Owned Business loans. Minority-Owned Business loans from the SBA are available to Houston companies that are at least 51% owned by minorities, women, or people with disabilities.
Small Business Lending From Mercantil Bank
Houston business loan providers offer many loans and financing options for business. When you are shopping for a small business loan, you probably will review the numbers like interest rates, downpayment terms, and repayment requirements. However, these figures do not always give you insight into which bank offers the best terms for your business. Mercantil Bank doesn’t only offer competitive loan terms for small businesses in Houston, we also want to help your business to succeed. Build a relationship with a bank that is invested in your community. Contact a SBA loan agent from Mercantil Bank today.