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SBA Express Loans vs. Business Lines of Credit

Looking for a loan to expand your small business? Picking the right loan can sometimes get too tricky due to the different types of loan programs that are available out there, but there are two loans that stand out from the rest – SBA Express Loans and Business Lines of Credit. We will be discussing these two loans in detail so you can determine which one is the best for your current situation.

SBA Express Loans

The word ‘express’ is usually associated with straightforwardness or simplicity in the realms of professional services and commercial businesses, and that’s what SBA Express Loans are – a type of small business loan with a simplified application process and a 36-hour response time. Other highlights of this loan are the flexible use of funds, $350,000 maximum borrowable cash, friendly interest rates, and a 10-year repayment period.

SBA Express Loans are the ideal option if the need to expand your small business is urgent and you don’t want to undergo heavy documentation requirements and a complicated application process. Unlike traditional loans, SBA Express Loans have a lighter documentation requirement and a quick loan approval, allowing you to get your borrowed cash within a few days, a few weeks, or up to 90 days. As for the collateral, some lenders require collateral while some do not.

With interest rates ranging from 4.5% to 6.5% which you can pay within the typical 10-year repayment period (this one varies on the loan terms), SBA Express Loans don’t leave that much of a dent in your bank account while you’re repaying the cash you’ve borrowed.

Business Lines of Credit

This type of loan works like a credit card in that you can consume your line of credit repeatedly without having to reapply for a new loan every time you use it. The highlights of business lines of credit loans are quick funding, lower interest rate than credit cards, and operates as a credit card. As for the amount of money you can borrow, it ranges from $5,000 to $150,000.

The beauty about business lines of credit loans is its exceptional funding time that can be as quick as 36 hours, making it the best type of loan for small business owners who need to get their hands on the cash as soon as possible.

Depending on the maximum borrowing amount that will be given by the lender, you can borrow up to that amount and repay it, given that you make the minimum payments regularly and don’t go over your maximum limit. Similar with how credit card payments work, a monthly interest will be charged on the amount you repay.

The requirements for business lines of credit loans can be too much for some, as you need to display a good credit score and a history of revenue before you can apply for one. As for the documentation, you will be needing business financial statements, bank account information, and personal and business tax returns.


While SBA Express Loans and Business Lines of Credit are both excellent kinds of loans for small businesses, the situation of the borrower is the factor that determines which among the two is the best.

Basically, if you want to borrow cash urgently but your requirements are lacking or you don’t want to undergo a complex application process, then SBA Express Loans are the way to go, even if the time of releasing of the funds varies. But if you feel that you have an excellent credit score and a history of revenue – and you’re willing to take care of all the heavy documentation, then the quick funding business lines of credit is the one for you.

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