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But unlike other loans offered through the 7 a program, Express loans are faster business loans that can be processed within 36 hours and potentially funded within a few weeks.
The amount you can borrow is limited, but you can use your funding for a variety black horse loans expenses, including working capital, expansion, equipment and debt refinancing. The amount the SBA guarantees may also be lower than on its normal sefcu car loan rates a loans, but for businesses that only need a small amount, they can be a handy way to get quick funding.
They allow businesses to borrow the same amounts for similar rates and terms - but Export Express loans have larger guarantees and are meant specifically for businesses that export products. An SBA Express loan is similar to a standard 7 a loan. And like 7 a loans, interest rates can be variable or fixed based on the Prime rate plus a percentage - currently between 2. The Export Express loan is sefcu car loan rates different.