SBA Express Loan Terms

SBA Express Requirements →

Finance Your Small Business or Startup With an SBA Express Loan

If you’re ready to take your small business to new heights, then you’ve come to the right place. At SBA Express Loans, we take pride in our mission to make acquiring an SBA Express loan for your small business a simple and straightforward process. Empowering entrepreneurs with knowledge about SBA Express loans is the cornerstone of our strategy for financing your business's needs. With our SBA lending experts, this financing is at your fingertips.

SBA Express loans are a simple way to receive expedited, amortized government-guaranteed financing for your small business. Entrepreneurs can receive up to $350,000 in the form of a term loan or line of credit. 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, thanks to the Small Business Administration's guarantee of 50% of the loan amount to third-party lenders. This loan may be the best option for business owners who don't meet the lending criteria of traditional financial institutions or who do not have sufficient credit history.

How Can Funds From an SBA Express Loan Be Used?

The SBA enforces limitations on how a business owner can use the funds provided. The funds must be used in accordance with the guidelines for SBA 7(a) loan usage. That said, SBA loans are well known to cover a wide variety of central business activities, making them an invaluable resource for any small business. 

ACCEPTABLE USES

• Providing long-term working capital
  Accounts payable, purchasing inventory, and other operational expenses 

• Providing short-term working capital
  Seasonal financing, contract performance, and/or export

• Purchasing real estate

• Purchasing equipment, furniture, machinery, supplies, and materials

• Covering construction or renovation costs

• Establishing or acquiring a new business, or expanding an existing business

• Refinancing existing business debt (though restrictions apply)

PROHIBITED USES

• Reimbursing an owner for previous personal investment into the business

• Repaying delinquent taxes

• Affecting changes (including to ownership) that will not have a positive effect on the business

• Any purpose not deemed a sound business purpose as determined by the SBA

Got any further questions or concerns regarding these rules? Talk to one of our lending professionals at any time.

Why Choose an SBA Express Loan Over Other Forms of Financing?

Though it's often a last resort for business owners who've been denied commercial loans, the SBA Express loan has significant value. There's no better option on the market when it comes to turnaround time. Plus, the SBA guarantee to third-party lenders ensures a higher approval rate — even for those who have a less-than-perfect credit history. Congress founded the Small Business Administration specifically to help Americans start, build, and grow their businesses. Since its inception in 1953, the SBA has executed millions of loans and loan guarantees to aid small businesses.

Do I Qualify for an SBA Express Loan?

Qualifying for an SBA Express loan is pretty simple. There are a few requirements, like operating your business within the United States and not having any existing debt obligations to the government. Surprisingly, the criteria isn't nearly as strict as one would think. In fact, the SBA emphasizes the few types of businesses that don't qualify, such as:

• Financial institutions engaged in lending

• Life insurance companies

• Consumer marketing cooperatives

• Speculative businesses 

• Businesses engaged in pyramid or multilevel sale plans

• Businesses that can attribute more than one-third of gross annual revenue to gambling activities

• Businesses that promote or partake in any illegal activities

SBA Express Loans provides a definitive list of qualifications for the SBA Express loan.