What Is the SBA Express Loan?
An SBA 7(a) Express Loan has fewer hoops to jump through than the other SBA 7(a) loans, since you won’t be waiting on as many back-and-forth approvals. Of course, you do still need to qualify, you’ll only be backed for up to 50% of $500,000, and an Express Loan may ultimately be more expensive.
What Is the SBA 7(a) Loan Approval Time?
An SBA 7(a) loan can take time to move through approval — typically, 60-90 days. In addition, if your lender is an SBA Preferred lender, they will have the authority to approve your loan much faster than a non-preferred lender.
What Are the Different SBA 7(a) Loan Programs?
Each of the SBA 7(a) loan programs are loan products guaranteed by the SBA and offered through financial institutions. They are designed to encourage American small businesses to grow and thrive. There are eight main SBA loan programs.
What Is the SBA Veterans Advantage Program?
The SBA Veteran Advantage Program honors veterans and other qualified individuals with lower fees on all of their popular SBA loan products.
What Are the Different SBA 7(a) Loan Programs?
Did you know that there are several different SBA 7(a) loan programs available to small business owners? The SBA 7(a) loan is the most popular of these, but it’s actually just one of several government-backed loans offered through lending institutions. Many small business owners may find themselves
Coronavirus and SBA Loans
Small businesses impacted by the COVID-19 Coronavirus may want to apply for an SBA loan through the Economic Injury Disaster Loan Program, the SBA 7(a) loan program, or the SBA Express Loan program.