Financing and Capital
The Governor’s Office of Small Business Assistance works closely with a variety of partners to highlight various avenues for access to capital, including, but not limited to the below:
Small Business Service Provider Grants
Small Business Service Provider Grants (SPG) aim to enhance and diversify projects and activities benefiting the state’s small and historically underutilized businesses (HUBs). The grant will afford small business service providers a greater degree of flexibility and creativity in their portfolio of offerings to small businesses and HUBs. To learn more about applying for this program, please read this additional information.
Texas Product/Business Fund
Texas Product/Business Fund provides asset backed financing to companies doing business in Texas through the form of direct asset based loans with competitive lending rates. Loans can be amortized up to the life of the asset. For more information, please visit the Incentives and Financing section of the website.
Non-Profit Lenders not only often offer favorable terms, such as low interest rates, but also other business related assistance, such as advice, workshops, and loan decisions based on more than a business’ financial statement. Some non-profit lenders in Texas include:
- BCL of Texas successfully promotes business and community development while providing business capital and commercial real estate loans throughout Texas. BCL has helped to create more than 5,000 jobs in Texas and in addition to providing businesses with counseling and technical assistance, BLC of Texas originates, underwrites, processes, closes and services business loans for healthy growing businesses.
- LiftFund seeks to provide credit and service to small businesses that do not have access to loans from commercial resources and to provide leadership and service to the micro-lending field on a national level. LiftFund provides individual business loans from $500 to $1 million. Through the SBA 504 loan program, they are able to offer loans up to $5.5 million to finance the acquisition of fixed assets
- PeopleFund provides loans and financial and technical assistance to people who are left out of the financial mainstream. PeopleFund administers small business and non-profit loans, business consulting, and technical assistance as well as a variety of other programs. PeopleFund offers the SBA Microloan for small businesses, the 7A Community Advantage for growing businesses, and the SBA 504 Loan for businesses looking to expand through purchase of commercial real estate or long-term equipment.
Federal Grants and Resources
Federal Grants and Resources are provided by the federal government to small businesses across the nation. Although many of these grants and other types of assistance, are used for research and development, below are a few websites with more information.
- Small Business Innovative Research and Small Business Technology Transfer Funding
- Catalog of Federal Domestic Assistance
- Office of Small and Disadvantaged Business Utilization
Small Business Administration Loan Programs
Small Business Administration Loan Programs are administered by local SBA Offices in Texas, providing financial aid to small businesses. For more information please visit the below links to each district office.
United States Department of Agriculture
USDA’s Business Programs provide financial backing and technical assistance to stimulate business creation and growth. Loans, loan guarantees, and grants are available to individuals, businesses, cooperatives, farmers and ranchers, public bodies, non-profit corporations, Native American Tribes, and private companies in rural communities. For more information, please visit the USDA website and/or the USDA Texas website
State Trade Expansion Program
The Governor's Office partnered with the Texas Department of Agriculture (TDA), and the U.S. Department of Commerce to administer the State Trade Expansion Program (STEP), a matching grant program geared towards exporting small businesses funded by the U.S. Small Business Administration. For more information about eligibility, and to apply, visit the TDA website.
Jobs 4 Texas
Jobs 4 Texas is an innovative program designed to increase small businesses’ access to capital and enable private entrepreneurs to make market-driven decision to grow jobs.