Today’s interest rates for all SBA loans
Check Today's Rates →
SBA 7(a) Loans in Frisco: Rates, Requirements
Frisco is a city located in Collin and Denton counties in Texas. As of the 2010 census, the city had a population of 116,989. Frisco was the fastest-growing city in the United States in 2009, and also the fastest-growing city in the nation from 2000 to 2009. The city of Frisco is part of the Dallas-Fort Worth metroplex, and is approximately 40 miles north of Dallas.
The economy of Frisco is diverse, with healthcare, retail, and professional services being the largest sectors. Frisco is home to several corporate headquarters, including the Dallas Cowboys, J.C. Penney, and Toyota Motors USA. Small businesses are a vital part of the Frisco economy, with over 4,000 businesses calling Frisco home.
Frisco has been ranked as one of the best places to live and do business in the United States. The city was ranked #3 on Forbes' list of the "Best Places for Business and Careers" in 2010, and #7 on CNNMoney.com's "Best Places to Live" list in 2009. Frisco was also ranked the safest city in America by Forbes in 2010.
Comparing SBA Loan Types in Frisco
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 Frisco? 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 Frisco
There are several options for small business loans in Frisco. 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 Frisco, 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.