Small Business Express Loans

Benefits of the SBA Express Loan

How to Use the SBA Express Loan

The SBA Express Loan is perfect when you need funding quickly. Uses for this loan include:

• Funding long- and short-term working capital 
• Purchasing equipment, supplies, machinery, furniture, or materials 
• Purchasing real estate, including land and buildings 
• Constructing a new building or renovating an existing building 
• Refinancing existing debt
• Establishing a new business or assisting in the acquisition, operation, or expansion of an existing business

This loan cannot be used for the following:

• Repaying delinquent taxes
• Reimbursing an owner for previous business investments
• Uses not deemed as sound by the SBA

SBA Express Loan Eligibility

Businesses must demonstrate their ability to operate for a profit and cover their day-to-day operating expenses. The business owner(s) must also show that they have invested a significant amount of their own capital in the business and have good FICO>® scores and payment history.

The SBA defines additional the eligibility criteria, including the following:

• Be a for-profit business located in the U.S. 
• Be able to demonstrate a need for a loan and use the funds for a sound business purpose. 
• Not be delinquent on any existing debt obligations to the U.S. government 

Some businesses may not qualify for an SBA Express Loan, and you can read more about ineligible businesses here.

Wasatch Peaks CU SBA Express Loans

At Wasatch Peaks CU, our SBA loans come with our long-standing commitment to local businesses in the Davis, Morgan, and Weber counties. We have financial advisors experienced in a diverse range of businesses and industries, and they’re ready to help your business secure funding.

For more information contact our Business Services Department at 801-452-7885, email them at business@wasatchpeaks.com, or click below to get started.

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