Term Loans in the Golden Triangle and Southeast Texas

Where the gold came from

The Beaumont-Port Arthur metropolitan area is a three-county region in Southeast Texas, also known as the Golden Triangle. The word golden refers to the wealth that came from the Spindletop oil strike near Beaumont in 1901, and triangle to the area between Beaumont, Port Arthur and Orange. It borders the Houston area to the west and the Lake Charles area in Louisiana to the east. This grouping includes Jefferson, Orange and Hardin counties, as well as Jasper, Newton, Polk and Tyler counties in the Piney Woods to the north.

That history shows in the local economy. Industrial and marine work, contractors and fabricators, and the restaurants and shops that serve plant crews have all grown up around the same corridor.

The question list for an industrial-corridor purchase

1. Is your income tied to turnaround and maintenance seasons that bring work in bursts? If so, plan payments around the slow stretch.
2. Does the equipment you plan to buy have a second customer base if your main client slows down?
3. Does your contract with the main client allow for the pace of payment you actually experience?
4. How much would a storm closure cost you in a week?
5. Is there a quote and a delivery date?

Storm season is part of the plan

The Atlantic hurricane season runs June 1 to November 30. A business near the coast should treat it as a standing risk to cash flow. A lump-sum purchase that arrives just before a storm season starts is a different risk from one that arrives at the end of it. Think about the timing of a purchase with that calendar in mind.

What owners fund here

• Welding, fabrication and machine-shop equipment for larger jobs.
• Trucks, trailers and cranes for contractors.
• Restaurant, hotel and retail renovations in Beaumont, Port Arthur and Orange.
• Vehicles and equipment for service businesses in the timber counties.
• A second location for a business that has proven the first.

These are examples of project types, not promises of funding for any specific business.

Putting it together before you apply

Gather the quote, the delivery date, the main customers who will use the new capacity and a short note on how the business behaves in a slow quarter or after a storm. Add a one-line statement of how the money will be repaid. This does not need to be a formal plan. It needs to be specific enough that someone who has never seen your yard or shop can understand it in two minutes. A specific, short request is easier to review and more likely to move quickly.

The funding facts

The application takes about five minutes and uses a soft credit pull. Funding from $25,000 to $5,000,000 can arrive in as little as 24 hours. Sole proprietors can apply.