SBA Express Loans
Borrow up to $350, 000 for your small business with an Express loan from Citizens Bank
The SBA Express loan program is ideal for businesses with less established credit histories looking to borrow up to $350, 000. Whether you want to renovate your facility or increase productivity with updated equipment, you can utilize a SBAExpress line of credit to temporarily increase your working capital.
Features
Borrowing amounts up to $350,000
Revolving lines of credit or Terms loans (up to 25 years real states)
Uses
Expansion or renovation of a facility
Purchase of machinery, equipment, fixtures, and leasehold improvements
Receivables financing or working capital augmentation
Building construction or land purchase
Short-term working capital (available as line of credit)
Rates
Bank Prime Rate plus 4.50% for loans $50,000 - $1,000,000
Bank Prime Rate plus 6.5 percent over the prime rate for express loans of $50,000 or less, regardless of the maturity of the loan
SBA Guaranty Fees
2.00% up to $150,000
3.00% from $150,001 - $700,000
3.50% from $700,001 - $1,000,000
* Other fees may apply given the specific details of the transaction, use of funds, loan structure, collateral, etc.