The best small business loans for Lewisville, 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 Lewisville, TX

We're proud to work with small businesses across various industries in Lewisville, 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 Lewisville, 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 Lewisville, 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 Lewisville, TX

How to get a small business loan in Lewisville, TX?

If you’re looking to get a small business loan in Lewisville, 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 Lewisville, 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 Lewisville, 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.

Lewisville TX

Lewisville TX

What financial factors should you consider when deciding to borrow capital in Lewisville, TX?

When deciding to borrow capital for a business in Lewisville, TX, there are several financial factors that you should consider:

  • Interest Rates: The interest rate is the cost of borrowing the money and affects the total amount you'll have to pay back. You should compare different lenders' interest rates to find the best deal.
  • Fees: Some lenders may charge origination fees, prepayment penalties, and late payment fees. Make sure you understand all the fees associated with the loan.
  • Repayment Terms: The repayment terms determine how long you have to repay the loan and the amount of your monthly payments. Longer repayment terms may mean smaller monthly payments but more interest paid over the life of the loan.
  • Collateral: Some loans may require collateral, such as property or inventory, to secure the loan. Consider whether you have enough assets to offer as collateral.
  • Credit Score: Your credit score significantly determines whether you'll be approved for a loan and what interest rate you'll be offered. Ensure your credit score is good before applying for a loan.
  • Cash Flow: You'll need to ensure that you'll have enough cash flow to cover the monthly loan payments and other business expenses, such as salaries and rent.
  • Business Plan: Lenders may require a business plan that shows your projected revenue and expenses and how you plan to use the loan proceeds. A strong business plan can help you secure the loan and use the funds effectively.
What is the interest rate on a business loan in Lewisville, TX?

The interest rate on a business loan in Lewisville, TX, can vary depending on the lender, the type of loan, the creditworthiness of the borrower, and other factors. Generally, interest rates on small business loans can range from 4% to 30% or more. It's important to shop around and compare offers from different lenders to find the best interest rate and terms for your specific needs.

Here are our interest rates:

TYPE OF SMALL BUSINESS LOAN

INTEREST RATES

Business Line of Credit

 Starting at 7.99%

SBA Loan

 Starting at 6.25%

Equipment Financing

 Starting at 5.99%

Asset Based Loans

 Starting at 5.25%

Bridge Loan

 Starting at 12%

Inventory Financing

 Starting at 7.25%

Invoice Financing

 Starting at 12%

Purchase Order Financing

 Starting at 15%

Business Term Loans

 Starting at 6.99%

Where do you borrow money for business in Lewisville, TX?

Businesses in Lewisville, TX, have various options for borrowing money. They can borrow from traditional banks, credit unions, online or alternative lenders. Each option has its own set of advantages and disadvantages.

Traditional banks and credit unions are a common choice for businesses looking to borrow money. They offer various loan options, including term loans, lines of credit, and Small Business Administration (SBA) loans. However, they can be more challenging to qualify for and often have stricter requirements.

Online lenders and alternative lenders have become increasingly popular in recent years. They offer a streamlined application process and can often provide funding quickly. However, they can also have higher interest rates and fees.