SBA Expanded its Express Bridge Loan Program
Updated: Apr 7, 2020
The SBA expanded its Express Bridge Loan Program to include all small businesses impacted by COVID-19 Emergency Declarations. Its Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 more quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
More details about this program are here, and on the Support smAlbany Business Resources Page