Austin is the capital of the U.S. state of Texas and the seat of Travis County, with portions extending into Hays and Williamson counties. It is the 11th-most populous city in the United States and the 4th-most populous city in Texas. It is also the fastest growing large city in the United States, the second most populous state capital after Phoenix, Arizona, and the southernmost state capital in the contiguous United States. As of the U.S. Census Bureau's July 1, 2019 estimate, Austin had a population of 964,254 up from 790,491 at the 2010 census. The city is the cultural and economic center of the Austin–Round Rock metropolitan statistical area, which had an estimated population of 2,056,405 as of July 1, 2019. Located in Central Texas within the greater Texas Hill Country, it is home to numerous lakes, rivers, and waterways, including Lady Bird Lake and Lake Travis on the Colorado River, Barton Springs, McKinney Falls, and Lake Walter E. Long.

Austin is known for its live music and nightlife scenes, as well as its many parks and lakes, which are popular for hiking, biking, swimming, and boating. The city is home to the University of Texas at Austin, the Lyndon B. Johnson School of Public Affairs, and Austin Community College. Austin is also the site of the South by Southwest (SXSW) Music, Film, and Interactive Festivals, which attract over 400,000 visitors to the city each year.

The economy of Austin is strong and diversified, with a focus on technology, clean energy, life sciences, and business services. The city is home to many major corporations, including Whole Foods Market, Dell Technologies, Oracle, AMD, Applied Materials, Cirrus Logic, Biogen Idec, PayPal, and National Instruments. In addition, Austin is a hub for many small businesses and startups. According to the Small Business Administration, there are over 100,000 small businesses in Austin, accounting for nearly 60% of all private-sector employment in the city.

The cost of living in Austin is relatively high, but this is offset by the city's strong job market. The unemployment rate in Austin is just 3.1%, well below the national average of 5.0%. Austin is also a great place to start a business. The city ranks No. 1 in the U.S. for startup activity

Comparing SBA Loan Types in Austin

Our Experts

When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.

SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.

Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.

Looking for more information about Austin? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.

Small Business Loans Available in Austin

There are several options for small business loans in Austin. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.

1. SBA 7(a) Loans

The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.

2. SBA 504 Loans

The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.

3. SBA Express Loans

SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.

If you are interested in applying for a small business loan in Austin, we’ll match you with the best lender: Click here for a free quote.

Getting the Right Insurance for Your Property

If you own the property you operate out of, you'll need adequate insurance in place as part of the SBA financing process. Unfortunately, the cost of property insurance has shot up in recent years — and not just in the disaster-prone areas that may immediately come to mind.

Janover Insurance Group is happy to provide you with a free, zero-obligation quote on insuring the commercial real estate your business owns and occupies. Simply click here to get started.