There are many SBA loan programs, but the SBA’s 7(a) program loans are the vast majority of all loans. Contact us if you need any clarity on any of these programs.
| Small Business Administration (SBA) Loan Programs | |||
| SBA 7(a) Loans | SBA 7(a) Small Loans | SBA Express Loans | |
| Loan Max | $5,000,000 | $350,000 | $350,000 |
| Processing Time | 45 – 90 days (or longer) | 45 – 90 days (or longer) | <36 hours |
| Interest Rate |
Maturity <7 yrs = Prime +2.25%-4.25% Maturity 7+yrs = Prime +2.75% – 4.75% |
Same as SBA 7(a) loans |
<$50K – prime +6.5% >$50K – prime +4.5% |
| SBA Guaranty |
85% if loan <$150K 75% if loan >$150K |
Same as SBA 7(a) loans | 50% |
| Guaranty Fee |
0% if loan <$150K 2.75% – 3% if loan >$150K plus ongoing fee of .546% |
Same as SBA 7(a) loans | Same as SBA 7(a) loans |
| Loan Maturity | 5 -10 yrs; real estate 25 yrs | Same as SBA 7(a) loans | Up to 7 years |
| Paperwork | Most time consuming | Less time consuming | Least time consuming |