SBA loan programs
SBA Express loan: smaller guaranty, smaller fee, same rate cap
SBA Express is the fast lane of the 7(a) program. Type an amount and a rate to see the fee and the payment, and how they compare with a standard loan.
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SBA Express loan: fee and payment
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Monthly payment
$1,335
| Guaranty fee on the 50% guaranteed part | $1,000 |
| Same amount as a standard 7(a) | $1,700 |
| SBA maximum, variable | 13.00% |
| Interest over the term | $59,167 |
prime rate 7.00% on November 2, 2026. Express uses the same maximum rates as other 7(a) loans; its guaranty is 50%, so the fee is charged on half the loan.
SBA Express is a 7(a) loan of up to $500,000 that a lender approves on its own forms and under its own procedures, without waiting for SBA to review the file. In exchange, SBA guarantees only 50% of it, against 85% or 75% on a standard 7(a) loan. That smaller guaranty lowers the guaranty fee, which is charged on the guaranteed part: under the FY 2027 schedule a $100,000 Express loan pays $1,000, against $1,700 as a standard loan. Businesses owned by a veteran or a veteran’s spouse pay no fee at all. The rate ceilings are the same as for every 7(a) loan, prime plus 6.5 points at most on the smallest amounts. Express is the most used route for small loans: 34.3% of the 56,130 7(a) approvals in FY 2026 went through it.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
Fee: Express against standard
| Loan | Express fee | Standard 7(a) fee | Variable cap today |
|---|---|---|---|
| $25,000 | $250 | $425 | 13.50% |
| $50,000 | $500 | $850 | 13.50% |
| $150,000 | $1,500 | $2,550 | 13.00% |
| $250,000 | $3,750 | $5,625 | 13.00% |
| $350,000 | $5,250 | $7,875 | 11.50% |
| $500,000 | $7,500 | $11,250 | 10.00% |
The fee gap grows with the amount, because the guaranteed part of an Express loan is half the loan while a standard loan above $150,000 is three quarters guaranteed. For the lender the trade is the reverse: half of every Express loan stays at its own risk, against a quarter or less on a standard loan.
Who lends through Express
A handful of large banks carry most of the Express volume, with a median loan near $50,000. Their median rates were set when prime was 6.75% to 7.00%.
| Lender | FY 2026 7(a) loans | Through Express | Median loan | Median variable rate |
|---|---|---|---|---|
| U.S. Bank | 3,068 | 77.0% | $50,000 | 10.24% |
| M&T Bank | 2,975 | 94.0% | $50,000 | 10.50% |
| TD Bank | 1,953 | 94.0% | $50,000 | 9.75% |
| JPMorgan Chase Bank | 921 | 92.0% | $200,000 | 10.50% |
| Columbia Bank | 697 | 93.0% | $50,000 | 11.75% |
| Banco Popular de Puerto Rico | 423 | 95.0% | $50,000 | 11.25% |
The rate depends on the lender far more than on the program. On small loans, where the cap is highest, some Express lenders priced most of their loans at the ceiling and others well below it; the lender page lists the share at the cap for each. When does Express cost less than a standard loan? Only through the fee, since the rate cap is the same: on $250,000 the Express fee is $3,750 against $5,625. The rate the lender quotes usually matters more. A standard loan at a margin half a point lower saves more than that gap over 10 years on any amount above a few tens of thousands of dollars, so compare the two quotes on the effective rate, not on the program name.
What the lender decides on its own
Under Express the lender uses its own application, credit memo, note and collateral documents, and SBA does not review the credit before the guaranty is issued. That is why the same bank may approve an Express loan in days and a standard 7(a) loan in weeks. It also means the lender’s own policy, not SBA’s, sets most of the paperwork you are asked for. SOP 50 10 8.1 still applies on eligibility, use of proceeds, the maximum rate and the fees, and an Express loan used to buy a business must meet the change-of-ownership rules of its Appendix 15.
Express is also not the only small-loan route: a microloan reaches owners a bank will not lend to, and the standard 7(a) goes up to $5,000,000.