Limited to loans of $350,000 or less, the express loan program can greatly speed the process of applying for a 7(a) loan. Expedited processing guarantees a response to your loan application within 36 hours. In practice, what this means is that the SBA will notify your lender within 36 hours if you are approved for an SBA guaranteed loan. Your lender may still require a significant amount of time to complete their internal loan application process, approve the loan and advance funds. Interest rates on Express Loans may be higher, with rates up to Prime + 6.5% for loans under $50,000 and up to Prime + 4.5% for loans over $50,000.

As of the time of this writing, the guarantee fee for loans under $150,000 is being waived by the SBA.