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One option for a struggling business during this time of uncertainty is an Express Bridge Loan (EBL). Express Bridge Loans provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-Declared disasters while those businesses apply for and wait for long-term financing. This loan helps a business get by until further financing is in place.  

Who can get the loan? Any Small business in any of the states, territories, and D.C. that have been negatively impacted by COVID-19. The Small business must have been operational as of March 13, 2020.  

You can also watch our YouTube video on the Express Bridge Loan here

General Eligibility for Express Bridge Loan

  • Credit Not Available Elsewhere 
  • Business Location: EBL applicant had an operating business in disaster area (Entire U.S. in the case of COVID-19) 
  • Adverse Impact: Lender must document in the credit memorandum that the EBL applicant had an operating business as of March 13, 2020 and that the applicant has demonstrated that it is has been adversely impacted by the COVID-19 emergency 
  • Eligibility Period: For COVID-19 Lenders may obtain SBA loan numbers for EBL loans through March 13, 2021 
  • Multiple Loans: An EBL applicant can only obtain 1 EBL loan per Emergency Declaration and it will count against the maximum limitation on the 7a loans
  • Credit Scores: A FICO Small Business Scoring Service Score of at least 130 and a personal credit score acceptable to the Lender’s standards 
  • Existing Banking Relationship: Lender must have an existing banking relationship with the EBL applicant as of the date of the applicable disaster (helps mitigate the risks of the streamlined underwriting process.) Acceptable documentation may include a copy of a current bank statement, an existing note, or other official bank documents that reference the EBL applicant’s business address.  

Loan Terms for Express Bridge Loan

  • EBL loan is structured as a term loan 
  • Maximum of 7 years 
  • Lender may require the EBL borrower to pay the EBL loan in part or in full if the borrower is approved for long-term disaster financing 
  • EBL loans in the COVID-19 disaster must be disbursed as working capital  
  • Interest Rate: EBL loan can have a fixed or variable interest rate—up to 6.5% over the Prime rate regardless of the maturity of the loan 

Information to Gather & Forms to Complete 

  • General Business information such as Name, Tax ID, Address, # of employees, & Ownership info.  
  • Forms to Complete (Applicant & Lender)  
  1. SBA Form 1920 “Lender’s Application for Loan Guaranty”
  2. SBA Form 1919 “Borrower Information Form
  3. SBA Form 159:
  4. IRS Form 4506-T & IRS Transcript
  5. SBA Form 912

What’s Next 

  1. Prepare SBA Form 1919 and IRS Form 4506-T to send to your SBA approved Express Lender  
  2. Follow up with your Lender to complete the expedited loan process 

 Find complete information for Express Bridge Loan here