This working capital loan is typically for start-up businesses and/or businesses owned by women, minorities and veterans or located in low-to moderate-income areas. This is a streamlined program for borrowers with reasonable credit who need up to $50,000.

Eligibility Criteria

• Start-up businesses allowed
• Loan proceeds for business acquisition not allowed
• Franchises must be on the SBA approved Franchise Registry www.franchiseregistry.com
• Liquid assets of individual owner cannot exceed $100,000 – does not include IRA and other qualifying retirement accounts
• If your home has more than 25% equity in it based on Zillow value a lien will be placed on your home

• Loan amounts – $5,000 to $50,000
• Term – 7 years, fully amortized
• Interest rate – $5,000 to $25,000 – Prime + 4.75%; $26,000 to $50,000 – Prime + 3.75%

Other Loan Features

• Quick turnaround time
• Two part application process: (1) Credit screening (2) Quick underwriting process
• Express capital loans are permitted after acquisition has been fully completed
• $525 packaging fees
• Veterans pay a reduced fee of $425 packaging fee – deducted from the loan proceeds
• SBA Guaranty fee of 2% of the guaranteed portion (85%) of the loan will be deducted from the loan proceeds
• Loan payments automatically drafted from the business checking account at their established financial institution
• No prepayment penalty – 21-day payoff notification required
• Technical Assistance Included – borrowers receive pre-and post-loan closing management and technical assistance
• Borrower must submit business plan and 24 months (by month) projections after approval, prior to funding
• Utilizes Fair Isaac Credit Score System, which evaluates credit score of the applicant and industry data, including current and recent past due accounts.  Collection accounts have a very negative affect on the applicants credit score and loan decision

Express Capital Loan Application

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