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SBA | RIN: 3245-AH85 | Publication ID: Fall 2024 |
Title: Express Loan Programs | |
Abstract:
The SBA Express loan program reduces the number of Government mandated forms and procedures. It also streamlines the processing and reduces the cost of smaller, less complex SBA loans. Particular features of the SBA Express loan program include: (1) SBA Express loans carry a maximum SBA guaranty of 50 percent; (2) SBA Express lenders use, to the maximum extent practicable, their own documentation, analyses, policies and procedures; and (3) a response to an SBA Express loan application will be given within 36 hours. The Export Express Program, made permanent by the Small Business Jobs Act, makes guaranteed financing available for export development activities. SBA plans to codify specific guidance on these two 7(a) delivery methods as well as the CARES Act authorization to permanently increase the maximum loan amount from $350,000 to $500,000 for SBA Express, which is effective October 1, 2021. |
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Agency: Small Business Administration(SBA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 13 CFR 120 13 CFR 121 | |
Legal Authority: secs. 7(a)(31) and 7(a)(34) of the Small Business Act |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Alejandro Contreras Acting Director, Office of Financial Assistance Small Business Administration 409 Third Street SW., Washington, DC 20416 Phone:202 205-6674 Email: alejandro.contreras@sba.gov |