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The SBA Express guarantee loan program goes as high as $250,000.
The turnaround time is 36 hours or less. Lenders and qualified
borrowers can negotiate the interest rate which is tied to
the prime rate (as published in the WSJ) and may be fixed
or variable. SBA Express also allows for revolving lines of
credit up to 7 years. Lenders are not required to take collateral
for loans up to $25,000.
SBA
Express Participating Lenders
(By total number of SBA loans made during Fiscal
Year 2003):
Fleet Bank NA *
Citibank, N.A. *
Washington Mutual Savings Bank *
Wachovia Small Business Capital *
Bank of New York
Bank of America National Trust & Savings Association**
*
Preferred Lender Provider (PLP) Lender
**
No SBA loans in Fiscal Year 2003
This is not the complete list of loan providers.
The list above contains the names of AACCWR members only.
For more information please contact us at:
100
Stevens Avenue, Suite 202
Mount Vernon, New York 10550
Phone:
914-699-9050, Fax: 914-699-6279
OR
The
African American Chamber of Commerce
Rockland Office
235 North Main Street, Suite 2
Spring Valley, New York 10977
Phone:
845-371-9243
Email
Us
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