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  1. #1
    Senior Member Reputation points: 81655
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    Exclamation SBA Express Loan Funding Increase

    SBA Express Loan Funding will be increased permanently to $500K effective October 01, 2021

    Quick Overview:

    SBA Express Loan Details

    Maximum 9.75% APR

    Repayment Terms
    Up to 25 years
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  2. #2
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    Thanks for update Dave..

    Just because limits change doesn't mean all banks will consider extending their limit on product because the Guaranty on 'Express' is lower percentage. Guess we'll see.

    In 2020 the Express limit was 1M (as part of the stimulus) and Citizens Bank gave one of our clients a 1M revolver. They PUSHED to get it done the last week of the Quarter because the limit was going down in 2021.

  3. #3
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    Quote Originally Posted by RichardGerard View Post
    Thanks for update Dave..

    Just because limits change doesn't mean all banks will consider extending their limit on product because the Guaranty on 'Express' is lower percentage. Guess we'll see.

    In 2020 the Express limit was 1M (as part of the stimulus) and Citizens Bank gave one of our clients a 1M revolver. They PUSHED to get it done the last week of the Quarter because the limit was going down in 2021.
    Good Info - My bank will go to the $500K - BUT - It all depends on the strength of the financials for the business owner.

    No 2 files are the same when it comes to risk and underwriting.
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

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