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SBA Express Loans for Veterans

If you’re a veteran who wants to get an SBA Express loan, the Small Business Administration is committed to making the process as easy as possible. Through the SBA’s Veteran Advantage program, veterans and other qualified individuals, such as the widowed spouses of veterans, can qualify for a variety of benefits, including an upfront discount on the SBA’s loan guarantee fee.

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SBA Express Loans for Doctor's Offices

With almost a quarter of a million medical practices in the U.S. generating hundreds of billions of dollars per year in revenue, it’s never been a better time to be a doctor (except for those pesky student loans.) So, if you’re a doctor, chiropractor, or another type of medical professional who wants affordable financing to start or expand a medical practice, you may want to look into the Small Business Administration’s SBA Express loan program.

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SBA Express Loans for Catering Companies

In 2017, catering companies around the U.S. generated $12 billion in revenue and employed nearly 270,000 American workers. From 2013 to 2018, the industry grew at average rate of 1.8% per year, and, as corporate profits and expendable income continue to improve in the next few years, the catering industry is expected to keep growing. If you’re looking for a source of streamlined, affordable financing for your catering company, SBA Express loan might the solution you’ve been searching for.

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SBA Express Loans for Computer Repair Companies

Computer repair companies are among the most popular types of small business across the country, with more than 57,000 business across the U.S. bringing in around $18 billion of revenue per year. If you operate a computer repair company, and you need financing to grow your business, an SBA Express loan could be the solution you’re looking for.

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SBA Express Loans for Retail Stores

With nearly $5.5 trillion in revenue generated in 2017 alone, the retail industry is one of the largest market sectors in the United States, employing more than 18 million American workers. So, if you want to start a retail business, or you want to take your current retail store to new heights, you might want to consider an SBA Express loan.

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SBA Express Loans for Self Storage Companies

As of 2018, there are more than 20,000 self-storage and warehousing businesses in the U.S., earning an estimated $25 billion in revenue and employing almost 240,000 people. From 2013 to 2018, the industry grew at a healthy average of 4.3% per year, a trend that’s expected to continue for the next several years. That means that it could be a great time to buy or expand your self-storage business; and, if you need affordable financing to do so, an SBA Express loan could be a great choice.

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SBA Express Loans for Car Washes

In 2017, the car wash industry generated an estimated $11 billion in revenue across the U.S., employing more than 215,000 workers. From 2013-2018, the industry grew at an average rate of 3.6% per year— making it a great time to start or expand a car wash business. So, if you’re thinking of getting a loan to start, grow, or refinance debt on a car wash, you should definitely consider the SBA Express Loan.

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SBA Express Loans for Auto Repair Shops

In 2017, auto repair industry generated an estimated $67 billion in revenue across the United States, employing nearly 560,000 workers. From 2013-2018, the industry grew approximately 2.7% per year, which means that it could be a great time for current auto shop owners to expand their business or even open a new location. So, if you’re looking for the financing you need to grow, start, or refinance debt on your auto repair company, you might want to look into an SBA Express Loan.

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How Long Does It Take an SBA Express Loan to Get Approved?

Most SBA Express loans are can go from initial application to funding within 45-60 days. However, some lenders can close these loans in as little as 30 days. However, no matter what SBA lender you work with (or what business you’re in), the more prepared you are when it comes time to apply for an SBA Express loan, the faster the process will go.

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Can You Use an SBA Express Loan to Buy Out a Partner?

Yes. The SBA Express loan is a fantastic way to buy your partner’s share of a business. Whether they’re leaving due to retirement, the desire to move somewhere else, or simply want to try starting a business in a new industry, SBA Express loans can get you up to $350,000 in funds to execute a partner buyout.

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SBA Express Loans for HVAC Firms

Right now, the HVAC industry in the U.S. generates more than $90 billion in revenue each year— and that number is estimated to increase to a staggering $130 billion by 2020. So, if you’re looking for financing to start, expand, or even refinance debt on your HVAC company, an SBA Express loan might be the perfect option.

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What is the Express Bridge Loan Pilot Program?

The Express Bridge Loan Pilot Program is a new SBA loan program which allows existing SBA Express lenders to offer expedited disaster loans of up to $25,000 to small businesses. The program, which officially began in Oct. 2017, permits lenders to offer these loans up to 6 months after a federally declared disaster.

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Can You Use SBA Express Loans to Refinance Business Debt?

If you currently have small business debt, an SBA Express loan can be a great way to refinance it. While it’s common for businesses to take on debt to expand their operations, if your debt is on unreasonable terms, and you have trouble affording your monthly payments, the debt could be significantly affecting your ability to run your business successfully.

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SBA Express Loans for Car Dealerships

According to a 2016 report, there were more than 16,000 franchised car dealerships and more than 20,000 independent dealerships across the U.S., generating nearly $1 trillion in annual revenue. The auto dealership industry employs approximately 2 million people across the country, making it an essential part of the American economy. If you’re interested in purchasing, expanding, or refinancing business debt on a car dealership, an SBA Express loan may be able to help.

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SBA Express Loans for Plumbing Companies

There are over 110,000 plumbing businesses in the United States, employing more than half a million workers and generating an estimated $93 billion in revenue each year. And, as any homeowner or business owner knows, having a good plumber is essential if you want to keep your pipes working and your home dry. So, if you’re looking for financing to grow your plumbing firm, refinance a business loan, or help your company through a rough patch, an SBA express loan could be a fantastic solution.

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What are the Interest Rates for SBA Express Loans?

SBA Express loans are currently offered at interest rate of 4.5% – 6.5% above the prime rate. As of August 1, 2018, the U.S. prime rate was 5%, giving these loans an effective interest rate of 9.5% - 11.5%. While SBA Express loan interest rates can be fixed or variable-rate, most lenders tend to offer variable-rate loans, especially for smaller loan amounts.

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SBA Express Loans for Preschools and Daycare Centers

In 2017, the preschool and daycare industry took in nearly $50 billion in revenue across the U.S., employing more than 1.6 million workers. Plus, the daycare industry is expected to keep growing in the next few years, making it an excellent time for new business owners to get into the market. So, if you’re interested in starting, expanding, or refinancing a preschool or daycare center, an SBA Express Loan could be a great way to do it.

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SBA Express Loans for Bars and Clubs

According to the American Nightlife Association, a major industry group, bars and clubs across the U.S. generate approximately $26 billion in revenue each year. With 70,000 bars and nightclubs in the U.S. employing nearly 400,000 people, it’s safe to say that the bar and nightclub industry is a major part of the American economy. And, if you’re a bar or nightclub owner in need of a faster form of SBA financing, an SBA Express loan could be the solution you’re looking for.

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SBA Express Loans for Restaurants

With annual revenues of approximately $800 billion per year and around 15 million workers, the restaurant industry is one of the most important aspects of the U.S. economy. Since the industry is incredibly competitive and experiences a lot of seasonal fluctuations, it’s incredibly important for restaurants to have a stable and affordable source of financing. That’s why the SBA Express loan, which can be approved and funded in as little as 30 days, can be a fantastic option for many restaurant owners.

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