McKinney is a city in Collin County, Texas, United States. It is Collin County's second-largest city, after Plano. As of the 2010 census, McKinney had a population of 131,117. It is part of the Dallas-Fort Worth metroplex, and is about 32 miles (51 km) north of Dallas.
The city's 2019 estimated population was 187,802. In 2018, McKinney was ranked as the #3 best place to live in the United States by Money magazine. This ranking is based on factors including job prospects, quality of life, and affordability. McKinney is also considered one of the best places to retire.
The economy of McKinney is strong and diversified. The city's top employers include Raytheon, Baylor Scott & White Medical Center, and the McKinney Independent School District. The city's largest industries are healthcare, education, and manufacturing.
Small businesses are a vital part of the McKinney economy. There are over 4,000 small businesses in the city, employing over 20,000 people. These businesses provide goods and services to residents and businesses alike. Many of these businesses are family-owned and operated, and have been passed down for generations.
Comparing SBA loan types in McKinney
Three SBA programs come up most often for McKinney, Texas businesses, and they do different jobs.
SBA 7(a) loan: program overview
Maximum loan
$5 million (sba.gov, fetched 2026-07-24)
What it funds
Working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and business acquisition.
Who lends
Participating banks and non-bank lenders. The SBA guarantees a portion of the loan; it does not lend directly to borrowers.
Rate structure
Negotiated between lender and borrower, capped at the SBA maximum. Most 7(a) loans price off the WSJ prime rate plus a spread.
Personal guaranty
Required from every owner of 20% or more of the business (13 CFR 120.160(a)).
Program facts confirmed against sba.gov/funding-programs/loans/7a-loans on Jul 24, 2026. Confirm current fees and maximum rates with your lender before relying on them.
SBA 504 loan: program overview
Maximum loan
$5.5 million per the SBA-backed debenture (sba.gov, fetched 2026-07-24). Total project size can be larger because a bank funds the first mortgage alongside it.
What it funds
Major fixed assets: owner-occupied commercial real estate and long-life machinery and equipment. Not working capital or inventory.
Structure
A conventional first-mortgage lender, a Certified Development Company holding the SBA-backed second, and a borrower down payment.
Rate
The CDC portion is fixed for the full term and set at the monthly debenture sale.
Program facts confirmed against sba.gov/funding-programs/loans/504-loans on Jul 24, 2026.
SBA Express: program overview
What it is
A delivery method inside the 7(a) program. The lender uses its own forms and procedures and gets an accelerated SBA response, in exchange for a lower SBA guarantee percentage than Standard 7(a).
What it funds
The same uses as 7(a), including revolving lines of credit, which Standard 7(a) term loans do not offer.
Trade-off
Faster turnaround and lighter paperwork, against a smaller guaranteed portion, which some lenders price for.
Current SBA Express maximum loan size and guarantee percentage are set by SBA notice and change. Confirm them on sba.gov or with your lender; this site does not publish an unverified figure.
Small business loans available in McKinney
An SBA 7(a) loan made to a McKinney, 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.