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.

SBA Express Loan Closing Times Compared to Other SBA Loans

In general, SBA Express loans close significantly faster than other forms of SBA financing. The SBA’s flagship program, the 7(a) loan, typically closes within 60-90 days, on average, 15-45 days more slowly than the average Express loan. SBA 504 loans, which are specifically designed to fund heavy equipment and owner-occupied commercial real estate (not working capital) can also close within as little as 45 days, though this process can significantly longer, depending on the individual circumstances.

SBA Microloans May Be The Fastest Form of SBA Funding

While they can only offer up to $50,000 and have slightly higher interest rates, SBA microloans can often close even faster than SBA Express loans, with an average closing time of 28-30 days. Plus, microloans don’t require businesses to have great credit. So, if you operate a small business that needs a little bit of money as soon as possible, an SBA microloan could be another option to consider.