SBA Express loan

SBA Express is part of the 7(a) program. Approved lenders make the credit decision themselves, using mostly their own forms and procedures, and the SBA guarantees 50% of the loan rather than the 75% to 85% on standard and small 7(a) loans. The smaller guarantee is the price of a lighter process.

Loans go up to $500,000 and can be term loans or revolving lines of credit, with lines allowed up to 10 years. Lenders do not have to take collateral on loans up to $50,000, and rates are negotiated but cannot exceed the SBA maximum.

It is still an SBA loan. Expect the lender to review tax returns, financial statements and credit, and expect SBA fees to apply.