SBA Working Capital Loan Program
The SBA Express Working Capital loan is the simplest and quickest SBA program. With an acceptable credit score, one year time-in-business and a profitable filed tax return, you will be approved.
Purpose: |
This SBA business loan can be used for business expansion. For needs like managing day-to-day cash flow, purchasing assets with
short-term depreciation - computers, office equipment, or inventory loading.
|
Loan Amount: |
With credit score of 650 or better – loan amount $100,000; with credit score of 690 or better loan amount $150,000. |
Sales Volume: |
Sales must be at least three times amount of loan request. |
Time in business: |
Minimum one year. Must have filed at least one tax return and showed a profit on that return. |
Collateral: |
None required. |
Interest Rate: |
Floating rate, up to 4.25% over WSJ prime, adjusted quarterly |
Term: |
Up to 5 years |
Prepayment Penalty: |
May prepay up to 25% during first 3 years without penalty.
|
SBA Guarantee Fee: |
Ranges from 1 to 3.5% of the guaranteed portion of the loan and varies depending upon the total loan amount. |
Lender Fee: |
1 to 4 points |
Debt Service Ratio: |
N/A |
|
