What is an sba express loan
SBA-Express.com™ is your gateway to getting the best deal on SBA 7(a) Small Business Loans, SBA CDC/504 Small Business Loans, SBA SBA Community Express Loans, SBA Patriot Express Loans, and SBA Export Express Loans.
The Small Business Administration (SBA) does not make small business loans, they provide partial loan guarantees to participating SBA bank and non-bank lenders. This partial loan guarantee is intended to reduce the risk to a point where a bank is willing to make a loan to a borrower that otherwise might not qualify.
Since the new economic recovery package is in place, getting an SBA loan is easier, faster and more cost effective than ever, and banks as well as non bank SBA lenders across the country are looking to make new small business loans.
When you apply for an SBA Loan through SBA-Express.com™. you get access to the nations top SBA Lenders who are eager to respond quickly to qualified SBA loan requests. In fact, most of our participating SBA lenders are prepared to Pre-Qualify* borrowers who meet their requirements in as fast as 48 Hours !
And best of all, applying for an SBA Loan through SBA-Express.com™ is absolutely FREE! Simply complete and submit the express application form found to the right of this page, and your SBA Loan request will be expedited and reviewed by a participating SBA-Express.com™ Lender with top priority.
What Can SBA Loans Be Used For?
SBA Loans can be used to start a business, expand a business, acquire a business, buy a franchise,
purchase equipment, finance inventory and accounts receivables, or for general working capital purposes. You can also finance equipment, and the acquisition, development or construction of business related real estate.
What Are The Different Types Of SBA Loan Guarantee Programs?
Here is an outline of the types of SBA backed small business loans and financing programs available through SBA-Express.com™.
SBA 7(a) loans are the most basic and commonly used type of loan within the SBA's business loan programs. Its name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.
The CDC/504 loan program is a long-term financing program intended to help foster economic development within a community. The 504 program provides guarantees for long-term, fixed-rate financing on major fixed assets, such as business related land and buildings.
The Community Express Loan program, is designed to focus SBA's financial and technical assistance resources on the needs of the Nation's underserved communities. Under the community Express program, approved SBA lenders are authorized to adopt the SBA's most streamlined and expedited loan procedures for transactions with borrowers located in these communities.
The Patriot Express Loan program, is designed to provide special assistance to Veterans, active duty Military, Reservists and National Guard members. The program provides for an increase in the maximum loan guarantee amount and quick processing.
The SBA Export Express program provides export businesses and SBA approved lenders with a streamlined process for obtaining SBA backed financing for loans and lines of credit, in the effort to help develop and expand export markets.Source: sba-express.com