By the numbers: Houston sees rise in small business loans received

annual report

The U.S. Small Business Administration has been facilitating more loans than ever before. Image via Getty Images

The U.S. Small Business Administration’s Houston district saw a nearly 25 percent increase this year in the dollar amount of the most popular type of SBA loan compared with the pre-pandemic year of 2019.

A new report from the SBA shows small businesses in the 32-county district received $1.3 billion in 7(a) loans in fiscal 2021 compared with almost $1.05 billion in pre-pandemic 2019. Borrowers in the SBA-backed 7(a) program can obtain loans of up to $2 million. The length of each loan is 25 years for real estate deals and seven years for working capital.

“The SBA continues to make headway in helping small businesses access much-needed capital, but much more work remains to be done,” Patrick Kelley, associate administrator for the SBA’s Office of Capital Access, says in a news release.

In terms of the number of 7(a) loans extended in the Houston district, the top lenders for fiscal 2021 were:

  • Wallis-based Wallis Bank
  • San Francisco-based Wells Fargo
  • Columbus, Ohio-based United Midwest Savings Bank
  • Birmingham, Alabama-based BBVA USA (now part of Pittsburgh-based PNC Bank)
  • Wilmington, North Carolina-based Live Oak Bank, the country’s most active 7(a) lender.

The top 7(a) lenders by total dollar amount of loans were:

  • Wallis Bank
  • Live Oak Bank
  • Humble-based Plains State Bank
  • San Antonio-based Frost Bank
  • Kingswood-based The Mint National Bank

The SBA’s Houston district is home to more than 600,000 small businesses in a 32-county region that includes the nine counties in the Houston metro area: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, and Waller.

Nationwide, the SBA backed $36.5 billion in 7(a) loans in fiscal 2021. Nearly $11 billion went to minority-owned businesses, $5 billion to woman-owned businesses, and $1.2 billion to veteran-owned businesses.

SBA lending could experience an uptick in fiscal 2021 due to inflation. An October 2021 survey conducted for the U.S. Chamber of Commerce and MetLife found 45 percent of small businesses had taken out loans to cope with rising inflation; among retailers, that figure was 58 percent. In the survey, 74 percent of small business owners expressed concern about inflation.

“Small business owners’ optimism is plowing through economic uncertainty, but they now face new obstacles with rising inflation, labor shortages, and supply chain challenges,” Tom Sullivan, vice president for small business policy at the U.S. Chamber of Commerce, says in a news release.

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Houston team develops innovative soft skeleton for kids with cerebral palsy

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A team from the NSF University of Houston Building Reliable Advances and Innovation in Neurotechnology (UH BRAIN) Center and TIRR Memorial Hermann has introduced the MyoStep soft exoskeleton for children with cerebral palsy, according to a news release from UH.

The soft skeleton aims to address motor impairments caused by cerebral palsy that impact children’s ability to participate in physical activities, self-care and academics.

“The MyoStep project represents a significant advancement in the field of pediatric mobility aids, particularly for children with cerebral palsy,” Jose Luis Contreras-Vidal, director of UH BRAIN and the Hugh Roy and Lillie Cranz Cullen Distinguished Professor of Electrical and Computer Engineering, said in a news release.

The next-generation lightweight, soft exoskeleton was funded by the IEEE Electron Devices Society (EDS) Award.

The MyoStep is made to be lightweight and discreetly fit under clothes. It includes a wireless sensor network embedded inside the smart and flexible fabrics that is the backbone of the suit and collects and sends real-time data about the user’s movements It also includes safety features with temperature monitoring and emergency shut-off mechanisms.

“By integrating cutting-edge technologies such as artificial muscles, smart fabrics, and a comprehensive sensor network, MyoStep offers a promising solution to the challenges faced by existing exoskeletons,” Contreras-Vidal said in a news release.

Cerebral palsy is a neurological disorder that impacts motor skills. It occurs in one to four out of every 1,000 births worldwide.

“What makes the MyoStep project so compelling is that it’s not just about the technology: it’s about restoring confidence, function, and hope,” Dr. Gerard Francisco, a clinical partner on the technology, The Wulfe Family Chair of Physical Medicine and Rehabilitation at UTHealth Houston and medical officer at TIRR Memorial Hermann, said in a news release. “This kind of innovation has the potential to dramatically improve quality of life, helping children move through the world with greater ease and dignity.”

Houston's 11 best places to work and more innovation news to know

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Editor's note: It's time to look back at the top business and innovation news for the first half of June 2025. Get the details on InnovationMap's most-read stories from June 1-13 below.

1. 11 Houston companies named best places to work by U.S. News

Chevron is one of the best places to work. Courtesy photo

Nearly a dozen public and private Houston-based companies have been hailed among the best places to work in 2025 by U.S. News and World Report.

The annual report examines thousands of companies around the world to determine the best employers based on six metrics including work-life balance and flexibility; quality of pay and benefits; job and company stability; career opportunities and professional development; and more. U.S. News included seven publicly-traded companies and four privately owned companies in Houston on the lists. Continue reading.

2. 2 Houston suburbs named among 10 best places to live by U.S. News & World Report

Pearland is the No. 2 best place to live in the U.S. Photo via pearlandedc.com

The Houston suburbs of Pearland and League City have landed among the top 10 best places to live in 2025, according to U.S. News & World Report.

Pearland ranked No. 3 nationwide, earning a 7.0 score alongside No. 1-winning Johns Creek, Georgia and No. 2 winner Carmel, Indiana. Pearland also landed on top of U.S. News separate rankings of the best places to live in Texas for 2025-2026. Continue reading.

3. Texas Space Commission doles out $5.8 million to Houston companies

Axiom Space and FluxWorks are the latest Houston-area companies to receive funding from the Texas Space Commission. Photo via Getty Images.

Two Houston-area companies have landed more than $5.8 million in funding from the Texas Space Commission. The commission granted up to $5.5 million to Houston-based Axiom Space and up to $347,196 to Conroe-based FluxWorks.

Axiom Space, a commercial spaceflight company, said the new funding will go toward the development of its orbital data center capabilities. Continue reading.

4. 3 Houston startups named most innovative in Texas by LexisNexis

Sage Geosystems is the No. 3 most innovative startup in Texas. Photo via sagegeosystems.com

Three Houston companies claimed spots on LexisNexis's 10 Most Innovative Startups in Texas report, with two working in the geothermal energy space.

Sage Geosystems claimed the No. 3 spot on the list, and Fervo Energy followed closely behind at No. 5. Fintech unicorn HighRadius rounded out the list of Houston companies at No. 8. Continue reading.

5. 9 can't-miss Houston business and innovation events for June

Don't miss these June events—from lightning pitches to a female-focused AI summit. Photo by Scott Halleran/Getty Images

From lightning pitches to a female-focused AI summit and energy conferences, there's still plenty to do as Houston settles into the summer. Here are the Houston business and innovation events you can't miss in June and how to register. Continue reading.

Houston universities launch summer 2025 accelerators for student ventures

summer session

OwlSpark, a startup and small business accelerator for Rice University-affiliated ventures, has named the latest 11 companies to its program that focus on challenges across technology, health care, consumer products and other sectors. The program is hosted in tandem with the University of Houston’s RED Labs and will take place at the Ion.

The early-stage accelerator runs for 12 weeks and culminates at The Bayou Startup Showcase on July 31.

According to a news release from Rice, “the accelerator cultivates a vibrant environment where founders are empowered to build, test, and scale their ideas in a setting built for entrepreneurship.”

The program is divided into two tracks: one for high-growth tech startups and another for small businesses.

The latest OwlSpark class includes:

  • Web and mobile platform EasilyBEE, which boosts family and community engagement in K-12 schools
  • Diagnos, a wearable-integrated wellness platform that monitors health and prevents injuries in college athletes
  • Johnnie, an AI-powered records management software for rural and midsize first responder agencies
  • JustKindHumility, which offers faith-based travel journals
  • Klix, whichautomates early-stage clinical trial management from document screening to AI-driven patient outreach and eligibility checks
  • Lizzy’s Gourmet Gains, which offers high-protein, flavor-forward dips and dressings
  • NextStep, an AI-powered multilingual assistant helping underserved communities navigate resources for health care
  • A catheter-integrated sensor device PeriShield, which detects early infection in peritoneal dialysis patients
  • Right Design, which connects creatives with vetted employers, mentors and projects via job matching and commissions
  • UCoreAlly, which provides business support for biotech startups in marketing, business development, customer support, human resources and accounting
  • Ultrasound-based ablation system VentriTech that treats ventricular arrhythmias

The Owl Spark accelerator has supported 229 founders and launched 104 ventures with participants raising more than $116 million in funding since 2013, according to Rice.

UH also shared the 9 teams that will participate in RED Labs' latest cohort.

The latest RED Labs class includes:

  • BLEED, an art agency that helps artists commercialize their work by connecting art collectors to original artwork and artists
  • Brain Haven, which is developing nasal inhalers designed to stimulate the emotional and memory processing centers to preserve neuroplasticity and delay cognitive decline
  • Candi Wands Automated Cotton Candy, which has developed a continuously operating cotton candy machine to help entertainment venues boost passive revenue
  • ChériCollectible, a series of in-person events where Gen Z and collectors can buy, sell, and trade modern collectibles
  • JobRadar, a job board that uses AI to analyze and categorize positions in real-time and then apply candidates instantly
  • Stage Select LLC, a supplementary talent booking service that partners with multi-stage venues to help fill gaps in programming and increase profitability by finding and booking local talent for their "second stage."
  • P-LEGS, a pediatric lower-limb exoskeleton that reduces physical strain on therapists while delivering customizable gait training.
  • Roll ‘N’ Reel Photo Booth, an interactive event-based equipment rental business
  • Stayzy, which automates guest communication and handles maintenance issues with an AI-powered software for short-term rental companies that manage 20-plus rentals
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