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SBA Express Loans Terms

What Are SBA Express Loan Terms?

The Standard Terms of an SBA Express Loan

An SBA Express loan carries loan terms similar to those of the standard SBA 7(a) loan, but with a few key differences. The convenience of quick turnaround times comes at a small price, the most notable being the maximum loan amount dropping from $5 million to $350,000. Apart from that, SBA Express loan terms include the following:

  • Maximum loan amount: $350,000

  • Interest rate: Between Prime +4.5 and Prime +6.5 (determined by the lender, based on the loan amount; can be fixed or variable)

  • Maturity: 5–10 years (7 maximum for a line of credit), or up to 25 years for real estate

  • Application turnaround time: Within 36 hours

  • Fund dispersal time: 45–90 days after approval

  • Collateral: Lenders are allowed to use their existing collateral policy for loan amounts of over $25,000