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If you are pursuing an SBA 7(a) or 504 loan for a major project, like acquiring a business or purchasing commercial real estate, you might also need additional financing to support day-to-day business operations. That’s where an SBA Express Loan comes in! This loan product is specifically designed to help small business owners with current business needs while also enabling them to plan for future expansion and growth.

Here's what you need to know about SBA Express Loans.

What is an SBA Express Loan?

An SBA Express Loan is one of many loan types offered by the Small Business Administration (SBA) and partnering lending institutions to support the growth and development of small businesses. SBA Express Loans are part of the SBA 7(a) program and can be structured as a term loan or line of credit.

At FNB Small Business Finance, we offer SBA Express Loans as an add-on product with an SBA 7(a) or 504 loan to be used as a credit line for working capital. This credit line can be drawn on for three years, with the remaining balance to be repaid on a 7-year term.

What Can an SBA Express Loan Be Used For?

The proceeds from an SBA Express Loan can be used for several business purposes, including but not limited to:

  • Payroll
  • Rent and utilities
  • Inventory
  • Equipment
  • Supplies and Materials

Your Business Development Officer will work with you to determine the proper loan amount based on your current and future needs. We can offer loan amounts ranging from $25,000 to $350,000.

What Are the Advantages of an SBA Express Loan?

SBA Express Loans can help bridge the gap between the funding from your primary SBA loan and your everyday business needs. This line of credit not only provides stability by helping manage cash flow but also unlocks opportunities for expansion. With funds available for more inventory, equipment, or even additional employees, your business can grow and set the stage for future success.

If you’re interested in learning more about incorporating an SBA Express Loan into your financing package, reach out to one of our experienced Business Development Officers today!