Who is Eligible?

Potential Borrowers Include:

Minority, Women and Veteran owned (51% owned and controlled) businesses located nationwide in Low to Moderate Income Areas (LMI), Hub Zones and other SBA designated areas.

Loan Features:

• Loan is fully amortized with no access fees per transaction
• Automated process provides fast turn-around time
• Loan amounts of $5,000 to $50,000
• 10 year term – Fully Amortized
• Unsecured – no collateral required
• Variable Interest Rate based on Wall Street Journal Prime, adjusted quarterly:
• Loans of $5,000 - $25,000 at Prime +4.75%
• Loans of $25,001 - $50,000 at Prime +3.75%
• $425 Loan 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

Eligibility Requirements:

• All SBA eligible industries considered
• Start-up businesses allowed
• Loan proceeds for business acquisition not allowed
• Working capital loans to businesses after acquisition has been fully completed are permitted
• Franchise 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
• No tax return required
• 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 effect on the applicant's credit score and loan decision

Ineligible Businesses:

• Investment Real Estate – apartments, rental housing or multi-tenant buildings
• Speculative Real Estate
• Agricultural and farm businesses (growing crops or animals)
• Fishing and Shore operations
• Medical facilities (including nursing homes and assisted living facilities)
• Mines (including sand and gravel pits)
• Applicants doing business in foreign countries
• Businesses engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting
• A business with any products or services of a sexual nature
• A business that is engaged in lending (with the exception of Mortgage Brokers)
• A business that is engaged in gambling

Loan Application Process:

• Application submitted by Technical Assistance (T/A) Provider or applicant directly
• Upon approval of loan a commitment letter is issued and closing documents are sent to the Technical Assistance Provider and/or Borrower
• Signed commitment letter and closing documents are returned to the Community Express Loan division
• Funding occurs after the Community Express Loan division receives the Technical Assistance certificate with business plan attached from the Technical Assistance Provider

SBA Community Express Loan Application

• SBA Community Express Loan Application
  Please Print and Fax completed application to:(866) 717-7718

For more information contact our experienced loan experts:

SBA Community Express Loan Fact Sheet

Fred Crispen Jane Crispen
Terry Crispen
Toll Free (866) 644-0042
Fax completed applications to (866) 717-7718

Identity Protection | Internet Safety and Security | Online Privacy Policy | Online Banking/Bill Payment Disclosure