Small Business Loans
Access capital to start or grow your El Paso business through federal, state, and local loan programs. From SBA loans to microloans, find the right financing option for your needs.
SBA Loan Programs
SBA 7(a) Loan Program
The most popular SBA loan program offering up to $5 million for working capital, equipment, and real estate.
Key Features
- Loan amounts up to $5 million
- Terms up to 25 years for real estate
- Competitive interest rates
- Can be used for most business purposes
Eligibility
Small businesses operating for profit in the U.S., meeting SBA size standards
SBA 504 Loan Program
Long-term, fixed-rate financing for major fixed assets like real estate or equipment.
Key Features
- Up to $5.5 million for standard projects
- Fixed interest rates
- Low down payment (10%)
- Terms up to 20-25 years
Eligibility
Businesses purchasing real estate, machinery, or equipment
SBA Microloan Program
Small loans up to $50,000 to help start or grow small businesses.
Key Features
- Loans up to $50,000
- Average loan size around $13,000
- Terms up to 6 years
- Technical assistance available
Eligibility
Startups and small businesses needing smaller amounts
Local El Paso Lenders
WestStar Bank
El Paso-based bank offering SBA loans and business lines of credit
Services Offered
- SBA 7(a) Loans
- Commercial Real Estate
- Equipment Financing
- Business Lines of Credit
GECU (Government Employees Credit Union)
Local credit union with competitive business loan programs
Services Offered
- Business Term Loans
- Commercial Real Estate
- Equipment Loans
- Working Capital
LiftFund
CDFI providing microloans and small business loans in El Paso
Services Offered
- Microloans up to $50,000
- Small Business Loans up to $500,000
- Business Coaching
- Technical Assistance
Accion Opportunity Fund
Nonprofit small business lender serving Texas entrepreneurs
Services Offered
- Loans $5,000 - $250,000
- Fast approval process
- Flexible requirements
- Business advising
Loan Application Tips
Prepare Your Business Plan
A comprehensive business plan demonstrates your vision and how you'll use the loan funds effectively.
Organize Financial Documents
Gather tax returns, bank statements, financial projections, and profit/loss statements for the past 2-3 years.
Check Your Credit Score
Most lenders require a credit score of 680+. Review your credit report and address any issues beforehand.
Determine Collateral
Identify assets you can use as collateral, such as real estate, equipment, or inventory.
Calculate Your Needs
Know exactly how much you need and how you'll use it. Avoid borrowing more than necessary.
Consider a Co-Signer
If your credit or business history is limited, a co-signer can strengthen your application.
General Eligibility Requirements
Business Requirements
- Operating for profit in the United States
- Meet SBA size standards for your industry
- Demonstrate ability to repay the loan
- Have a sound business purpose
Owner Requirements
- Good personal credit history (typically 680+)
- Invest equity in the business
- Exhaust other financing options first
- Provide personal guarantee
Need Help Finding the Right Loan?
Our team can help you navigate loan options and connect you with the right lenders for your El Paso business.
Contact UsRelated Resources
Continue exploring helpful resources to grow your El Paso business
Grant Opportunities
Explore federal, state, and local grant programs that don't require repayment.
Financial Projections Guide
Create the financial projections lenders require to evaluate your loan application.
Business Registration
Complete your business registration before applying for loans and financing.