Title (With Link) SBA Economic InjuryDisaster Program
SBA Loan Programs
SBA LenderMatch SBA Export Express Loans
SBA Working CapitalProgram
Description • • • •
There are multiple proposals in congress for modifications to the program Targeted working capital loans of up to $2M to SMBs that have been severely impacted by COVID-19 Program has approximately $7B in coverage (Trump has requested an additional $50B) and is usually a 2-3 week approval process Only available in certain states / counties at the moment, but approval is expected in all 50 states In order to qualify, the business needs to be unable to get funds from any other financial lender
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There are multiple proposals in congress for modifications to both of the below programs • SBA 7(a) Program: loans for up to $5M to eligible small businesses; currently requires a personal guarantee • SBA Express Loan Program: loans for up to $350k. Turnaround time for approval or denial of the loan is 36 hours though it can take longer to get your loan funded
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• Free online referral tool that connects small businesses with participating SBA-approved lenders within 48 hours
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• Allows access to capital quickly for businesses that need financing up to $500k • Businesses can apply for line of credit or term note prior to finalizing an export sale or while pursuing opportunities overseas
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• Program enables small businesses to fulfill export orders and finance international sales by providing revolving lines of credit or transaction-based financing of up to $5 million
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