|Maximum Loan Amount||$250,000|
|Maximum SBA Guarantee Percent||Follows standard SBA guarantee percent|
|Interest Rate||Standard SBA rates apply: Lenders may charge up to Prime plus 2.25% for maturities under seven years and Prime plus 2.75% for maturities of seven years or more, with rates 2% higher for loans of $25,000 or less and 1% higher for loans between $25,000 and $50,000.|
|Revolving Lines of Credit||Allows revolving loans up to 7 years|
|Turnaround Time||Mostly within 36 hours|
|Forms||Lender uses mostly own forms and procedures|
Lenders are not required to take collateral for loans up to $25,000. Lenders may use their existing collateral policy for loans from $25,000 to $250,000.
|Credit Decision||By lender|
Lender must ensure borrower receives appropriate technical assistance (T/A) but may use SBA’s Small Business Training Network (SBTN) and/or other SBA T/A resources to fulfill T/A requirements. Lender must document provision of T/A in loan file.