The best small business loans for Grand Prairie, TX

Take your business to new heights with the right financing

  • Apply in less than 60 seconds
  • Wide range of financing option for every need
  • Competitive rates and terms
  • Personalized service
  • Dedicated support team

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Industries we work with in Grand Prairie, TX

We're proud to work with small businesses across various industries in Grand Prairie, TX. Whether you're in healthcare, construction, or technology, we're here to help you grow and succeed. Our financing solutions are customized to meet your needs, so you can focus on what you do best - running your business!

Here are some of the many industries we serve:

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    Construction

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    Medical Practices

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    Beauty Salons

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    Retail Stores

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    Restaurants

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    Hotels

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    Manufacturing

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    Staffing

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    Automotive Businesses

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    Landscaping

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    Toy Businesses

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    Transportation

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    IT

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    Professional Services

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    Veterinary Practices

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    Franchise Businesses

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See why thousands of businesses have made SMB Compass

the top-rated small business loan provider in Grand Prairie, TX

Garrett Cushing
Garrett Cushing
November 30, 2021.
Diligent and honest people to work with. SMB has been a great resource for my business, helped me through a variety of different financing over the years.
John Limato
John Limato
November 16, 2021.
I rarely write reviews but felt the need to thank the SMB team. Found them to be honest people that took the time to understand my business and walked me through the entire process.
Connor Johnson
Connor Johnson
November 4, 2021.
SMB helped me navigate through the growth period in my business. They were diligent and genuinely cared to make sure we got the percent line in place to meet our current needs. Very happy I was introduced to them and would highly recommend.
Michelle Cota
Michelle Cota
October 27, 2021.
I am so happy that SMB was able to help our company when we were in a jam. They were so attentive and so easy to work with. Helped step by step to get financed. Thank you Clay!
Veronica Akins
Veronica Akins
October 14, 2021.
SMB Compass was helpful and fast. They kept in contact and answered all my questions. The best part of our interactions was that the lender could have given me an extremely high interest rate loan when I thought that was my only option, but he instead told me of another option that fit our needs much better and saved us money! Thank you Clay
John Folco
John Folco
October 13, 2021.
True experts in the Commerical finance space. Great company to work with, look forward to a continued relationship.
Pat Mcandrews
Pat Mcandrews
October 8, 2021.
Great team of professionals to work with. Incredibly responsive and great problem solvers. Would recommend them to anybody.
Haroon S
Haroon S
September 22, 2021.
Clay was great to work with. Very responsive and great communication.
John Lutz
John Lutz
September 15, 2021.
Great people to work with. They were transparent and helpful from the first call to closing. I would recommend them to anyone in my network.
Matthew Seymour
Matthew Seymour
July 16, 2021.
Clay & Matt are experts in the industry and they are able to advise on a number of topics.

Learn more about our loan packages

The best small business loan in Grand Prairie, TX

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    SBA Loans

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    Term Loan

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    Invoice Financing

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    Business Line of Credit

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    Inventory Financing

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    Bridge Loans

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    Equipment Financing

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    Asset Based Loans

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    Purchase Order Financing

FAQs about small business loans in Grand Prairie, TX

How to get a small business loan in Grand Prairie, TX?

If you’re looking to get a small business loan in Grand Prairie, TX, here’s what you should do:

  1. Know what you need. Before applying for a loan, get a clear idea of how much money your business needs and how you will use the funds. Doing so can help identify the best type of loan for your needs.
  2. Check your credit score. Many lenders in Grand Prairie, TX, will look at your credit score when reviewing your application, so knowing where you stand is important. If your score is less than ideal, consider improving it by making timely payments, keeping old accounts open, and limiting new credit applications.
  3. Research lenders. Many different types of lenders offer small business loans in Grand Prairie, TX, including banks, credit unions, and online lenders. Do your research to find out which ones best fit your needs and qualifications.
  4. Prepare your application. Once you’ve identified potential lenders, prepare your loan application carefully. This may include providing financial statements, tax returns, and other documentation demonstrating your ability to repay the loan.
  5. Apply for the loan. If you’ve found a lender you’re comfortable with, it’s time to start your application. The process varies from lender to lender, but essentially, you need to submit your loan application along with the required documents. You also need to prepare to answer any additional questions the lender may have.
  6. Wait for a decision. The lender will then review your application and decide whether to approve your loan or not. Funding speed depends on the lender and loan type. Banks usually take weeks or months, while online lenders can fund your business in a day.
 

Grand Prairie TX

Grand Prairie TX

Can you get a loan to start a business in Grand Prairie, TX?

Yes, getting a loan to start a business in Grand Prairie, TX, is possible. Several options are available, such as bank loans and credit unions, SBA loans, and online lenders. The specific requirements and terms for each type of loan may vary, so it's important to research and compare options to find the best fit for your business needs.

What is the best place to get a business loan in Grand Prairie, TX?

You can research and compare different lenders that offer business loans in Grand Prairie, TX, including local banks, credit unions, and online lenders. It is important to consider factors such as interest rates, loan terms, fees, and eligibility requirements before applying for a loan. Also, consult a financial advisor or business consultant for guidance on selecting the best loan option for your needs.

How do I come up with a business loan in Grand Prairie, TX?

Here are some steps you can take to come up with a business loan in Grand Prairie, TX:

  • Determine how much money you need: Before applying for a loan, you should determine how much money you need to start or grow your business. You can do this by creating a detailed business plan that outlines your expenses and projected revenue.
  • Research loan options: You can research loan options from local banks, credit unions, and other financial institutions in Grand Prairie, TX. You can also look into online lenders that offer business loans.
  • Check eligibility requirements: Once you have identified potential lenders, check their eligibility requirements to see if you qualify for a loan. Eligibility requirements may include credit score, annual revenue, and time in business.
  • Gather necessary documents: To apply for a business loan, you must gather and submit various documents, such as business tax returns, financial statements, and a business plan. Be sure to check with your lender for a complete list of required documents.
  • Submit your application: After you have gathered all the necessary documents, you can submit your loan application to your lender. You may need to wait a few days or weeks for your application to be reviewed and approved.
What is the highest business loan amount in Grand Prairie, TX?

The highest business loan amount you can receive in Grand Prairie, TX, will depend on several factors, such as the type of loan, the lender's terms and conditions, your creditworthiness, and the financial health of your business. Generally, the maximum loan amount for small business loans is $5 million, while for microloans, it is around $50,000. However, it is best to check with individual lenders to determine the specific loan amount they can offer for your business.

 Here’s a breakdown of the maximum loan amounts for each loan we offer:

TYPE OF SMALL BUSINESS LOAN

MAXIMUM LOAN AMOUNT

Business Line of Credit

$10,000 -$5,000,000

SBA Loan

$100,000 – $10,000,000

Equipment Financing

$25,000 - $5,000,000

Asset Based Loans

$250,000 - $10,000,000

Bridge Loan

$25,000 – $5,000,000

Inventory Financing

$25,000 – $10,000,000+

Invoice Financing

$25,000 - $10,000,000+

Purchase Order Financing

$25,000 – $10,000,000+

Business Term Loans

$25,000 – $5,000,000