SBAExpress Loans an Option for Many!

The maximum loan amount is $350,000, and the maximum SBA guaranty is 50%। This is sufficient for many start up ventures.

Lenders and borrowers can negotiate the interest rate with a local bank. Rates are tied to the prime rate (as published in the Wall Street Journal) and may be fixed or variable, but they may not exceed the SBA maximums. Lenders may charge up to 6.5 percent over prime rate for loans of $50,000 or less and up to 4.5 percent over the prime rate for loans over $50,000. Lender uses mostly its own forms and procedures. The credit decision is made by the Lender, and the turnaround time is 36 Hours or less.

The Lender is not required to take collateral for loans up to $25,000. The Lender may use its existing collateral policy for loans over $25,000 up to $150,000. For Loans greater than $150,000, the Lender must follow SBA's general collateral policy.

We always offer a free consult to business owners and entrepreneurs on this option and others to expand and start up worthy ventures.