The SBA Express is a loan program guaranteed by the SBA (Small Business Administration) and offered by a qualified lender.
Eligibility for this program may be determined by a qualified lender. The maximum loan amount is $350,000 of which 50% is guaranteed by the SBA.
Interest rates can be negotiated between lender and borrower. Rates may be fixed or variable, but are tied to the prime rate and cannot exceed the SBA maximums.
The lender makes the credit decision and the SBA turnaround time is usually within 36 hours.
This is a loan. These are not government grants for small businesses or what people commonly call grants for business. More detailed information can be found about the SBA Express here.
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