Texas is known for being a business-friendly state. With a vibrant and growing workforce, low tax rates, and plenty of financing resources, the Lone Star State makes a great place to launch your next venture. Here’s a list of Texas-specific loans and grants for new and established businesses alike.
1. Department or Agency: Texas Department of Economic Development
Loan or Grant title: Texas Enterprise Fund
The Texas Enterprise Fund grants money to help companies considering a Texas site from other non-Texas site options. The program is a performance-based incentive for companies with projects that would drive large capital investment and job creation in Texas. Awards vary and are calculated based on an analytical model that weighs many factors including the number of jobs created, the time frame until hiring, and average wages paid to prospective workers. Applicants must commit to creating over 75 full-time jobs in urban areas or over 25 full-time jobs in rural areas.
2. Department or Agency: Texas Department of Economic Development
Loan or Grant title: Original Capital Access Program
The Original Capital Access Program is a loan program designed to improve funding options for small and medium-sized businesses and nonprofits that face difficulties finding capital from traditional lenders. Texas small businesses with under 500 employees qualify if they have over 51% of their staff in Texas and are seeking financial support for activities that drive economic development. Acceptable uses include working capital or to purchase, construct, or lease buildings or equipment. The program works with two lenders: Lift Fund and People Fund.
3. Department or Agency: Texas Department of Economic Development
Loan or Grant title: Spaceport Trust Fund
The Spaceport Trust Fund exists to attract and support spaceport development corporations to promote viable business entities capable of launching and landing reusable spacecraft from Texas. The Spaceport Trust Statue provides full eligibility details for spaceport development corporations. Grant funds cover costs for infrastructure development needed to establish a spaceport. The Texas Economic Development and Tourism Office solicits proposals from eligible applicants.
4. Department or Agency: Texas Workforce Commission
Loan or Grant title: Skills for Small Business
The Skills for Small Business program provides grants to local small businesses with under 100 employees, for employee training. The program pairs applicants’ full-time employees with training at local technical colleges or the Texas A&M Engineering Extension Service. While the program emphasizes newly hired workers, the program can also support training for employees hired within the prior 12 months of application submission. Awards range from $1,800 for new employees to $900 for incumbent workers already on staff but hired within the allowable time period. Only courses on active course catalogs are approved.
5. Department or Agency: Texas Workforce Commission
Loan or Grant title: Skills Development Fund
The Skills Development Fund helps Texas companies and trade unions fund the development and implementation of tailored training programs, unique to their organizations. Applicants must partner with local technical colleges, Workforce Development Boards, and economic development partners to develop the training programs. The program increases both the skills and wages of Texas workers while fostering economic development. Grant awards of up to $500,000 can be used for curriculum development, instructor fees, and training materials.
6. Department or Agency: Texas Agricultural Finance Authority (TAFA)
Loan or Grant title: Agricultural Loan Guarantee Program
The Texas Agricultural Loan Guarantee Program offers low-interest loans to start or enhance farming or ranching operations, or to launch an agricultural-related business in Texas. Loans follow a tiered structure, either the lesser of $250,000 or 90% of the loan amount, or the lesser of $500,000 or 80% of the loan amount. The applicant’s lender will submit a request for loan funding to TAFA on the borrower’s behalf. Acceptable uses are for working capital, or for purchasing or leasing machinery, facilities, or real estate.
7. Department or Agency: Texas Department of Agriculture
Loan or Grant title: STAR Fund
The Star Fund is designed to help Texas farmers, ranchers, and agribusiness owners recover from devastating natural disasters. To be eligible, the county where the business is located must have been declared a disaster by the Texas governor and the company must submit expenses not covered by insurance or other government programs. Available assistance covers 50% of eligible expenses, up to $4,000. Visit the website to view current disaster declarations and learn more.
8. Department or Agency: Center for Women Entrepreneurs – Texas Women’s University
Loan or Grant title: Texas Rural Woman Grant
The Texas Rural Woman Grant is an annual grant program that supports rural economic development in Texas by providing grants to woman-owned small businesses launching new or innovative projects. Awards are $5,000 per organization, which must be for-profit enterprises in business for more than three years and located in Texas. Funds can be used to acquire equipment, technology, inventory, or raw materials; purchase or install fixtures or display units; pay for marketing or other costs pre-approved by the Center for Women Entrepreneurs.
9. Department or Agency: Center for Women Entrepreneurs – Texas Women’s University
Loan or Grant title: Veteran Woman Grant
The Veteran Woman Grant is an annual grant program designed to support veteran-woman-owned small businesses in Texas. Awards are $5,000 per organization, which must be for-profit enterprises with at least a 51% ownership stake by an Honorably Discharged woman military veteran. Applicants can also be active duty with a discharge date, or Reservist/National Guard members. Funds can be used to acquire equipment, technology, inventory, or raw materials. They can also be used for marketing, and to purchase or install fixtures or displays. Any other use must be pre-approved by the Center for Women Entrepreneurs.
10. Department or Agency: Houston Fund for Social Justice and Economic Equity
Loan or Grant title: Wells Fargo Open for Business Grant Program
The Wells Fargo Open for Business Grant is an annual, joint program with the City of Houston designed to provide financial capital to historically underserved small businesses located within Houston, Texas. Eligible small businesses must have been established in Texas prior to 2022, be located in the City of Houston, and have 100 or fewer employees, including the owner. Grant awards range from $5,000 to $100,000, and can be used to purchase land, build, renovate, or purchase buildings or machinery, buy or update technology, or modernize streets, utilities, parking lots, or landscaping.
11. Department or Agency: Texas Film Commission
Loan or Grant title: Texas Moving Image Industry Incentive Program (TMIIIP)
Through this program, qualifying film, television, commercial, animation, visual effects, video game, extended reality (XR), and other moving image productions can apply for a cash grant based on a percentage of their project’s eligible Texas expenditures.
The base incentive rate is between 5-20% with an additional grant award of 2.5%. To qualify for the program, 55% of the combined paid employees and contractors have to be Texas residents, and 60% of the total production has to be completed in Texas.
12. Department or Agency: Texas Department of Economic Development
Loan or Grant title: Loan Guarantee Program
Part of the Texas Small Business Credit Initiative (TSBCI), the Loan Guarantee Program works with banks and credit unions to give small businesses loan guarantees. Through the program, qualified businesses can get between $5,000 and $20 million in loans, with up to 80% guaranteed (not to exceed $4 million). They can put the money toward startup costs, working capital, inventory, equipment purchases, franchise fees, renovations, and more.
13. Department or Agency: Texas Department of Economic Development
Loan or Grant title: Texas Semiconductor Innovation Fund
Through the Texas Semiconductor Innovation Fund (TSIF), qualified businesses can get grants for investing in semiconductor research, manufacturing, and design projects. To qualify, businesses must have an established presence in Texas and be able to advance the semiconductor industry, create new jobs, and invest a significant amount of capital into the advancement projects.
14. Department or Agency: BCL
Loan or Grant title: Texas Small and Diverse Growth Fund
Run through BCL, a certified Community Development Financial Institution (CDFI), the Small and Diverse Growth Fund is a flexible loan program designed for women and minority business owners in Texas. Qualified businesses can get a loan from $5,000 to $50,000 in as fast as three business days.
15. Department or Agency: BCL
Loan or Grant title: New Business Lending
BCL’s New Business Lending program gives loans to businesses within their first two years of operations. If you qualify, you can get a loan between $20,000 and $50,000 for working capital, real estate, furniture, fixtures, equipment, and more. Plus, you get complimentary business coaching for the entirety of your loan term.
16. Department or Agency: BCL
Loan or Grant title: Rural Business Lending
BCL’s Rural Business Lending program is designed to support growing businesses in areas of Texas with populations of 50,000 and fewer. If you qualify, you can get a loan between $50,000 and $250,000 for working capital, machinery and equipment purchases, and real estate.
17. Department or Agency: BCL
Loan or Grant title: Business Growth Fund
BCL’s Business Growth Fund supports Texas businesses in expanding operations. If you qualify, you can get a loan between $50,000 and $300,000 for working capital, machinery and equipment purchases, real estate, and debt refinancing.
18. Department or Agency: LiftFund
Loan or Grant title: Small Business Loans
Another CDFI, LiftFund provides business loans to small businesses and entrepreneurs in Texas and a handful of other states. Qualified businesses can get loans for commercial real estate purchase, equipment, inventory, leasehold improvements, supplies, vehicles, and working capital.
19. Department or Agency: PeopleFund
Loan or Grant title: Small Business Loans
PeopleFund—a certified CDFI—has a slew of loan products for small businesses and startups in low to moderate income areas in Texas (and geared toward women, minority, and veteran-owned operations). PeopleFund offers SBA 7(a) loans, SBA 504 loans, microloans, and quick infusions of cash called Flash Funds. If you qualify, you can get a loan for up to $5 million with interest rates between 7-15%.
20. Department or Agency: PeopleFund
Loan or Grant title: BIPOC Small Business Accelerator Program
PeopleFund’s BIPOC Small Business Accelerator Program designed to help underserved entrepreneurs in Texas get the capital and mentoring they need to build and grow their businesses. Qualified businesses can get a loan through PeopleFund, as well as a $3,000-5,000 grant. To qualify, either the business needs to be located in a low to moderate income area within Texas or the business owner needs to live in a low to moderate income area or have an household income that qualifies as low to moderate.
21. Department or Agency: Texas Department of Agriculture
Loan or Grant title: Young Farmer Grant
The Texas Department of Agriculture’s Young Farmer Grant is designed to support aspiring agricultural entrepreneurs in starting or growing an agriculture business in Texas. Qualified individuals (corporations, LLCs, and partnerships aren’t eligible to apply) between the ages of 18 and 46 can get a matching grant between $5,000 and $20,000 to go toward business costs.
22. Department or Agency: Founders First
Loan or Grant title: Texas Job Creators Grant
The Texas Job Creators Grant gives diverse-led businesses that create jobs paying $50,000 or more grants of $5,000. To qualify, businesses need to be at least 51% owned by a founder who identifies as one of the following: Latino, Black, Asian, woman, LGBTQIA+, veteran, or someone who lives in a low to moderate income area.
23. Department or Agency: BMO
Loan or Grant title: BMO Celebrating Women Grant Program
This program gives $10,000 grants to qualifying women-owned businesses looking to expand their operations. To qualify, you need to be located in Texas (among other qualifying states), be at least 51% women-owned, have an annual revenue of $5 million or less, and have been operating for at least two years as of April 1, 2024.
24. Department or Agency: Texas Department of Agriculture
Loan or Grant title: State Trade Expansion Program
The Texas Department of Agriculture’s State Trade Expansion Program gives grants to businesses to help create or expand their export capacity. Eligible small businesses need to have a product or service manufactured, produced, processed, or value-added in Texas, and be either new to exporting or new to market expansion. The next round of applications will be open in 2025.
25. Department or Agency: Amegy Bank
Loan or Grant title: Small Business Boost Program
Amegy Bank’s Small Business Boost Program gives $5,000 grants to small businesses in the greater Houston area with annual revenues below $20 million. To be eligible, businesses have to be nominated for the program.
26. Department or Agency: City of San Antonio
Loan or Grant title: Small Business Construction Support Grant Program
The city of San Antonio gives grants to eligible micro and small business owners whose businesses are located in an area impacted by ongoing city construction projects. Qualified businesses can get between $5,000 and $35,000 to put toward business-related expenses, including payroll, working capital, labor, rent, utilities, and machinery and equipment purchases. To qualify, businesses need to be a retail or service business that relies on foot traffic for operations.
27. Department or Agency: City of San Antonio
Loan or Grant title: Second Stage Company Grant Program
Administered by the City of San Antonio, this grant program is designed to support second-stage companies through common growth challenges, like entering a new market or expanding their workforce. Eligible businesses can get up to $50,000. To qualify, businesses need to be headquartered within San Antonio, earn between $1-5 million in annual revenues, have between 10-99 employees, and pay full-time employees at least $17.50 an hour.
28. Department or Agency: City of San Antonio and LiftFund
Loan or Grant title: Zero Percent Interest Rate Loan Program
Together with LiftFund, the City of San Antonio is offering local businesses loans from $500 to $100,000 with fixed 0% interest rates to put toward business growth, startup expenses, machinery and equipment, inventory, payroll, and working capital. Eligible businesses need to be located within—or relocating to—San Antonio city limits and have at least one employee.
