Business financing in Erath County.

Small business financing is money you borrow — or receive as a grant — to start, run, or grow a business. It can cover equipment, inventory, a work truck, a rental property renovation, or just keeping the lights on during a slow month.

Financing comes in several forms:

• **Term loans** — You borrow a lump sum and pay it back over a fixed period with interest. Good for one-time purchases like equipment or a vehicle.

• **Lines of credit** — You draw money as you need it, up to a set limit. Good for managing cash flow between jobs or invoices.

• **Microloans** — Smaller loans (often under $50,000) aimed at newer or smaller businesses. Many CDFIs specialize in these.

• **SBA-backed loans** — The U.S. Small Business Administration does not lend directly; instead, it guarantees part of the loan so local lenders take on less risk. This makes it easier for borrowers who might not otherwise qualify.

• **Grants** — Money you do not repay. Grants are competitive and usually tied to specific purposes (rural development, veteran-owned businesses, etc.).

For most small contractors and investors in Erath County, the best starting point is a local CDFI or credit union — not a national bank or an online lender with a flashy ad.

Erath County sits in the Cross Timbers region of North-Central Texas, anchored by Stephenville — home to Tarleton State University and a well-established dairy and beef cattle industry. The local economy is driven by agriculture, construction trades, small retail, food service, and a growing base of healthcare and education workers.

If you fall into any of these categories, local financing products were designed with people like you in mind:

• **Solo contractors and tradespeople** — electricians, plumbers, HVAC techs, carpenters, and landscapers who work independently or run a crew of a few people.

• **Agricultural operators** — small dairies, ranchers, and farm support businesses common throughout Erath County.

• **Small retail and food businesses** — shops, restaurants, food trucks, and catering operations in Stephenville, Dublin, or Lingleville.

• **Real-estate investors** — individuals who buy, renovate, or rent residential properties in the county.

• **Immigrant entrepreneurs and ITIN holders** — many residents work hard, pay taxes with an Individual Taxpayer Identification Number (ITIN), and build businesses without a Social Security number. ITIN-based financing is real and available.

Credit scores matter, but they are not the only factor — especially at CDFIs and credit unions. Business history, cash flow, character references, and community ties all count.

Getting organized before you walk into a lender saves time and builds credibility. Most lenders in this region will ask for some combination of the following:

**For all applicants:**

• Government-issued photo ID (driver's license, passport, or consular ID / matrícula consular)

• ITIN or Social Security number

• Proof of address (utility bill, lease agreement)

• Last 2–3 years of personal tax returns (or ITIN tax filings)

• Last 2–3 months of personal bank statements

**For established businesses:**

• Business tax returns (last 2 years if available)

• Last 3–6 months of business bank statements

• Profit-and-loss statement (your accountant or bookkeeper can prepare this)

• Business licenses or permits relevant to Erath County or Texas

• Any existing lease agreements for your business space

**For newer businesses or startups:**

• A simple written business plan (one to two pages is fine for microloans)

• A description of how you will use the funds

• Any contracts, letters of intent, or customer commitments that show demand

**For real-estate investors:**

• Purchase contract or property details

• Estimated renovation costs (contractor bids help)

• Proof of any rental income if the property is already occupied

Do not let a missing document stop you from making a first call. A good local lender or CDFI will tell you exactly what they need and give you time to gather it.