24 Jun Need Funding Fast? Why SBA Express Loans Might Be Your Best Bet
As a business owner, there are times when you need funding fast. And that’s where the SBA express loans come in. As the name suggests, the SBA express loan program offers fast and flexible financing to businesses.
Today, we will unveil why SBA express loans are a go-to financing option for most businesses.
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Why is an SBA Express Loan a Great Fit?
Easy to Qualify
Unlike traditional SBA loans, express funding programs do not require much documentation and are a great fit for businesses with limited credit history. This helps companies to build strong financial credit profiles which can be used in the future to secure more Funding.
Flexibility when using Funding
Once approved, businesses can use the funding for inventory, as working capital, to purchase new equipment, and other business expenses. Businesses in the export industry can enjoy export express loans of up to $350,000 with up to 10- year repayment period.
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Structured Repayment Option of up to 10 years
Short term loans can cause cashflow cripples, especially when you have repayments that are due, and you are behind your revenue collection. However, with an SBA express loan, you can repay it for up to 10 years, making it easy to manage cash flow effectively.
Fast Approvals
A lender’s approval time is crucial when applying for a loan, especially when you need money quickly. SBA Express loans offer a quick turnaround time, making it easy for businesses to plan well. Better still, the program provides up to $350,000 in Funding, allowing businesses to meet different financial needs.
Loans of up to $50,000 do not require collateral. Borrowers and lenders can negotiate the interest rates, but they do not exceed the SBA maximum.
Wrapping up
SBA Express loans are a great funding option for businesses looking for financing without affecting their cash flow. At Countrywide Financial Solution, we help businesses secure the financing they need with seamless application. Talk to us
