Unfortunately Ishan is not correct here. Sorry Ishan. There are two programs called the SBA 7(A) Small loan program and the SBA Express loan program. Both are for loan sizes under $500,000. However, your lender has to have a special designation to do SBA Express loans, and not all lenders have that additional designation. Historically you could not use an SBA Express loan for a change of ownership transaction / business purchase. However, you can now do so. The issue you will run into here is that most SBA lenders do not like to do business acquisition loans using the Express Loan program due to the time still involved on their end in underwriting them. And there is a minimal level of documentation required for business acquisition loans, even when using the Express product that exceeds that required for more common express loans, like working capital loans and debt refinances. Because of that, it can be very hard to find a lender to do a business acquisition under the SBA Express program. Although available, I would not plan on using this and I would still plan on at least 45 to 60 days to close.

Agree with ^redacted‌, most lenders will want to use the small loan because it is guaranteed at a higher rate. We do not typically offer the express program other than for LOCs.