Give Us a Call 24/7 to Speak to a Loan Specialist: (866) 526-0238
Give Us a Call 24/7 to Speak to a Loan Specialist: (866) 526-0238

SBA Express Loans Explained

For small businesses looking for affordable financing the options the options tend to be limited these days. While alternative lenders approve a much higher percentage of loans than traditional banks, small banks and community lending institutions, their rates can be unaffordable. 

If you are a business owner who has looked at traditional financing for smaller business loans, many banks won’t touch your loan request unless you’re seeking, at least, $500,000 in financing. This goes for both traditional banks, and SBA lenders. 

Thankfully, the SBA Express loan program is available to help small businesses obtain financing up to $350,000 without extensive paperwork and a long wait for approval and funding.

What is the SBA Express Loan Program?

To understand the SBA Express business financing program one must first understand how SBA loans works. The SBA doesn’t actually loan money directly to small businesses, but instead gives authorization to SBA Express lenders to originate loans to small companies and in return the SBA covers up to 50% of the lenders’ losses should the small business not repay the loan.

The SBA Express loan program is part of the SBA 7(a) program, the Small Business Administration’s flagship program. Lenders participating in the SBA Express loan program provide financing (both term loans and lines of credit) up to $350,000 with rates ranging from 6-8%.

What sets the SBA Express program apart from the other forms of SBA financing is the reduced amount of documentation required — the lender uses their own documentation and a single SBA express borrower form — which leads to a quick turnaround by the SBA (which takes about 24 hours after a lender submits application to SBA). 

Advantages of the SBA Express Loan Program?

  • Rates between 6-8%
  • Repayment terms up to 7 years
  • Fast turnaround by the SBA (24 hours after lender submits to SBA for approval)
  • Reduced paperwork and documentation
  • Wide range of uses
  • Low fees

SBA Express Loan Uses?

  • Inventory financing
  • Short-term working capital
  • Long-term working capital
  • Revolving financing
  • Equipment, machinery and supply purchases
  • Expansion
  • Business Renovations

SBA Express Fees

  • Loans up to $150,000 (12 month term or longer): 0% out fees for smaller loans
  • Over $150,000 (12 month term or longer): 3% of the portion the SBA guarantees

How to Secure SBA Express Financing

  • Step 1: Apply to delegated SBA Express Lender
  • Step 2: SBA lender approves financing
  • Step 3: SBA lender submits to SBA for final approval
  • Step 4: SBA provides decision within 24 hours

Documentation Required For SBA Express Financing

  • 2 years business tax returns
  • 2 years personal tax returns
  • Interim income statement Interim balance sheet List of all of the business’ debt
  • Business entity documents

Who We Are

GUD Capital is a nationally recognized leader in the financing industry for providing the best business lending solutions available to small and mid-sized businesses. We leverage our network of 4,000 competing commercial lenders to provide your business the largest selection of commercial financing options.

Get Started

Recent Posts

Staffing Company Working Capital: Business Loans for Staffing Businesses
May 16, 2018
Chinese Restaurant Loans: Financing for Chinese Dining and Take-out Restaurants
May 14, 2018
Thai Restaurant Loans: Financing Options for Restaurants Serving Thai Cuisine
April 26, 2018
Warehouse & Storage Facility Loans: Financing for Warehouses & Self-Storage Companies
April 25, 2018
Subcontractor Business Loans: Working Capital for Subcontractors
April 10, 2018
Jewelry Store Business Loans: Funding Options For Jewelers
April 4, 2018
Los Angeles Business Loans: Financing Options for LA Companies
March 22, 2018
Dance Studio Business Loans: Financing For Dance Schools & Teachers
March 5, 2018
Professional Service Industry Business Loans: Financing for Professional & Business Services
February 25, 2018
Medical Professional Working Capital: Operating Capital For Doctors Offices
February 1, 2018
Hospitality Industry Loans: Financing Options For Hospitality Companies
January 30, 2018
Retail Store Loans With Bad Credit: Poor Credit Retailer Financing
January 22, 2018
Appliance Store Business Loans: Funding Options for Appliance Shops
January 21, 2018
Nonprofit Business Loans: Working Capital for Non-profit Companies and Organizations
January 17, 2018
Manufacturing Working Capital: Operating Capital for Manufacturers
January 3, 2018
Timber, Lumber & Wood Industry Business Loans
January 1, 2018
Houston Business Loans: Working Capital for Houston Small Businesses
December 7, 2017
Construction Working Capital: Construction & Contractor Working Capital
December 1, 2017
Aviation Industry Loans: Financing for Aviation Companies
November 28, 2017
Entertainment Industry Loans: Capital For Film & Entertainment Companies
November 27, 2017
Vegan & Vegetarian Restaurant Loans
November 21, 2017
Barber Shop Loans: Financing & Working Capital For Barbers
November 15, 2017
10 Best Merchant Cash Advance Tips: How to Get the Best Business Cash Advance
October 11, 2017
High Risk Working Capital: Cash Flow for High Risk Small Businesses
October 10, 2017
Alternative Business Loans With Bad Credit: Nontraditional Bad Credit Lenders
October 5, 2017