To qualify for an SBA Express loan, businesses must meet the eligibility requirements determined by the SBA 7(a) program. These requirements include:
Operating for profit in the USA
Having been in operation for at least two years
Meeting SBA size standards
Having already looked for alternative funding
No delinquencies or debt obligations to the US government
Good character and a credit score of 600-650
Certain businesses may be ineligible, and additional documents such as a personal history statement and financial projections may be required. If approved, the funds will be disbursed within 90 days and a guaranty fee will be required.
For more information, please visit SBA Express Loan Requirements.