SBA Express Loans at Highland Bank: Working Capital Lines of Credit

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This SBA program provides working capital lines of credit for manufacturing, wholesale, services and retail businesses. May be used to finance inventory, accounts receivable, a specific contract and more.

Terms of up to 7 years
Competitive rates
No application required

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Download Highland Bank’s SBA Loans Comparison Chart (PDF)

SBA Express Loan Guidelines

Eligibility

For-profit business
Must qualify as a small business according to SBA Size Guidelines (varies by industry type)

Loan Size

Maximum SBA loan amount is $350,000

Financing

Provided by Highland Bank
SBA provides a 50% guaranty to Highland Bank

Use of Proceeds

Working capital lines of credit

Collateral

SBA requires that Highland Bank take a first secured interest in business assets and/or a mortgage on real estate.

Loan Terms

Revolving lines of credit available up to 7 years. Initial term is 1 year with renewal options.

SBA Guaranty Fee

SBA charges .25% of the guaranteed portion the first year on the line of credit
During the second year 1.75% will be charged on loans of $150,000 or less and 2.75% on loans over $150,000

Interest Rate Spreads

Rates can be fixed or variable. Maximum spread: For loans equal to or less than $50,000 the maximum spread is WSJ Prime +6.50%
For loans over $50,000 and up to $250,000 the maximum spread is WSJ Prime + 4.50%