The SBA Express loan program is a simple way to receive expedited, amortized, government-guaranteed financing for your small business.
The tedious process typically associated with obtaining funding for a small business is enough to keep many business owners from ever applying.
Still, that doesn’t mean that situations don’t arise in which a small business owner needs an injection of capital on short notice.
Entrepreneurs can be funded up to $10,000,000 of capital in the form of either a term loan or line of credit.
Once the funds are made available, the owner has very few restrictions as to what it can be used for.
Even so, the true value of an SBA Express loan lies not only in the remarkably fast turnaround time for approval but also in the willingness of lenders to advance funds, due to the SBA’s guarantee of 50% of the loan amount.
Unlike the SBA (7)(a) loan, the Express loan sets itself apart by being approved or denied within 36 hours.