Veteran business owners in Texas have access to many startup capital resources that the average small business owner does not. If you’re in search for startup capital for your veteran owned small business in Texas, you’re in the right place! First things first, you need to make sure you are in a position to obtain startup capital for your veteran owned business in Texas. Before applying for any type of financing, you should always check your personal credit. I suggest using www.nav.com because it will give you the most accurate picture of your credit history and score. The FICO score is still used by 90% of lenders to check your credit. It’s important that you see the same information they see to properly access your situation.
Checking your personal credit will give you an idea of whether or not you are in a position to borrow money for your business. Most lenders will use your personal credit history to determine if you qualify for startup capital. Startups typically haven’t built a track record (i.e. sales and revenue), so your personal credit is your track record with lenders. You’ll also need some sort of steady income if you’re a veteran business owner in Texas. Lenders will want to verify your income (and current debts) to be sure you can service the debt (i.e. afford to pay it back). If you have good credit and a steady income, obtaining startup capital for your veteran owned business should be simple. Here are several resources you can use to get startup capital for your veteran owned business:
- The Small Business Administration – The SBA has dedicated a large section of their website to educating veteran business owners on the many resources available to them, including how to find capital and other sources of funding. Go here to search their website and find the startup capital sources you need to build your veteran owned business in Texas.
- GrantWatch, Inc (Texas Grant Watch) – GrantWatch, Inc lists numerous grant funding opportunities for veteran owned businesses and businesses that target veterans in Texas. If you own a non-profit business or you’re thinking about starting a new one, their website might be worth checking out. Go here for more information.
- LenCred – Our funding consultants can help you obtain up to $200,000 or more for your veteran owned business in Texas. Whether your company is a startup or existing small business, with no revenues, declining revenues, or increasing revenues, we can help you! All you need to have is a good personal credit history (or know someone who does) to qualify. Contact us today for more information.