Amarillo is the 14th-most populous city in the state of Texas, United States. It is also the largest city in the Texas Panhandle, and the seat of Potter County. A portion of the city extends into Randall County. The estimated population was 199,826 as of 2019. The Amarillo metropolitan area has an estimated population of 276,020 in four counties as of 2017. The metro population is projected to surpass 310,000 in 2020. Amarillo is the regional economic center of the Texas Panhandle, and is economically important to Eastern New Mexico and the Oklahoma Panhandle. Amarillo serves as the headquarters for many state and federal agencies, including the Texas Cattle Feeders Association, the Texas Panhandle Groundwater Conservation District, the High Plains Underground Water Conservation District No. 1, the Amarillo VA Health Care System, the Northwest Texas Healthcare System, and the Pantex Plant. Amarillo is home to the headquarters of the American Quarter Horse Association. Amarillo is the site of the United States Department of Energy's Pantex Plant, where the nation's nuclear weapons are assembled and disassembled.
The city is also home to the headquarters of the American Quarter Horse Association. The city is the site of the United States Department of Energy's Pantex Plant, where the nation's nuclear weapons are assembled and disassembled. Amarillo has a diverse economy with a gross metropolitan product of $26.8 billion in 2010. The city's largest employers include the Pantex Plant, Amarillo College, Bell Helicopter Textron, Northwest Texas Healthcare System, and the Amarillo Independent School District. The city is also home to the Port of Amarillo, the fourth-largest inland port in the United States. Amarillo is served by Rick Husband Amarillo International Airport, the 10th busiest airport in Texas.
Comparing SBA loan types in Amarillo
Three SBA programs come up most often for Amarillo, Texas businesses, and they do different jobs.
Small business loans available in Amarillo
An SBA 7(a) loan made to an Amarillo, Texas business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Amarillo
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.