Express Loan
The SBA Express loan is a loan under the SBA 7(A) program but with less required paperwork in exchange for lending limit of $350,000. The qualifying business must be in operation a minimum of two years as evidenced by two complete years of tax returns with individual owners having minimum FICO of 640.
- Loan or line of credit or both
- Max credit $350,000
- At least 2 years in business
- All owners must have a minimum FICO score of 640
- Product of the SBA Guaranteed Program like the 7(A)
Loans can be used for a variety of purposes and can be structured as a term loan or a line of credit or even a combination of both so long as the aggregate credit is no more than $350,000.
