SBA Express Line of Credit

USE OF PROCEEDS

·         Permanent working capital

·         Inventory

·         Real estate improvements

·         Refinance of existing business debt

AMOUNTS

·         Minimum- $25,000

·         Maximum – $500,000

MATURITY

·         Inventory or working capital- Typically structured at 7 years but not to exceed a maximum of 10 years

·         7(a) Refinancing- Must coincide with the remaining useful life of the assets being refinanced or use of proceeds chart

Variable Rates – based on Prime Rate based on dollar amount of loan and term

SBA Guaranty Fee- Loans of $150,000 or less: 2% of the guaranteed portion.

Loans of $150,001 to $500,000: 3% of the guaranteed portion.

SBA Guaranty Fee-Veterans- 0.00%,

Lender may charge up to $2500 packaging fee.

WHO QUALIFIES

·            Must be for profit and meet size standards

·            Good character and credit management

·            Must be an eligible type of business

BENEFITS FOR BORROWERS

·            Quick and Easy Approval

·            Fixed Maturity

·            No prepayment penalty