Small Business Loan
Does your Small Business Qualify?
To qualify for our Small Business Loan Program, your business must be able to prove a minimum of three years of operations. Startup businesses that have been in operation for one to two years may qualify under the SBA guarantee if they:
- can demonstrate relevant experience
- can show positive equity of 10 to 20%
- possess an alternate source of income
- can provide long-term assets as collateral
The Term Loans within our Small Business Loan Program range from $50,001 to $250,000.
US Department of Transportation Short Term Lending Program
Accion Texas is an approved participant lender in the Short Term Lending Program administered by the U.S. Department of Transportation
Office of Small and Disadvantaged Business Utilization.
The purpose of the loan is to provide working capital, funded by federal funds, to service an active, approved Department of Transportation-Related project.
The business must be certified as a Disadvantaged Business Enterprise (DBE) by authorized state or local transportation agency, or it must be certified by SBA as a Section 8 (a), HUB Zone, Small Disadvantaged Business (SDB), or Disabled Service Veteran (DSV). The loan is 75% Guaranteed by US DOT.
The program offers a Revolving Line of Credit of up to $250,000 over a 12-month term at an interest rate of the highest WSJ Prime Rate +2.0% or 6.5%.
To qualify, businesses must demonstrate more than three (3) years of operations, and provide Assignment of Contract and all Accounts Receivable arising from a financed contract as collateral.