Flexible financing backed by the SBA
Helping your business stay agile, profitable, and ready for opportunity
Flexible financing backed by the SBA
Helping your business stay agile, profitable, and ready for opportunity
SBA Express Lines of Credit*
When your business needs cash flow to seize new opportunities, the SBA Express Line of Credit from WaFd Bank offers a streamlined, SBA-backed solution. The SBA Express Line of Credit delivers quick approvals, flexible access to funds, and trusted guidance from a bank that truly knows small business, WaFd Bank.
Quick approvals, confident decisions
Quick approvals, confident decisions
Financing up to $100,000
Financing up to $100,000
Personalized service and relationship banking
Personalized service and relationship banking
Fast, smart access to working capital
Features & benefits:
- Loan amounts up to $100,000
- Revolving access to working capital
- Simplified documentation and faster processing
- Ideal for short-term needs or seasonal cash flow
- Only pay interest on what you use
- 24 months use as a line of credit, then amount borrowed becomes a term loan with fixed payments
Best if you:
- Manage a growing business
- Need flexible access to capital
- Value fast approvals
WaFd Bank's SBA Loans and Credit Lines
| SBA 7(a) Loan | SBA 504 Loan | SBA Express Line of Credit | |
|---|---|---|---|
| Uses | Flexible; working capital, inventory, debt refinancing, purchasing another business, etc. | Buy or improve major fixed assets like commercial real estate, long-term equipment, upgrades, or expansion | Flexible; manage cash flow, seasonal gaps, emergencies, etc. |
| Maximum loan amount | Up to $5,000,000 | Up to $15,000,000 | Up to $500,000 |
| Term | 2 to 25 years | 10, 20, or 25 years | 10 year term, use as a line of credit for 2 years, then converts to 8 year repayment period |
| Prepayment penalty | Only applicable for terms of 15 years and up, declines as years pass | Varies, but declines as years pass | N/A, use it and pay it off again and again |
| Interest rate | Can be fixed or variable | Fixed | Variable |
| Access to funds | Varies depending on the project; typically a one-time lump sum disbursement | Varies depending on the project; typically a one-time lump sum disbursement | Borrow as needed up to a set amount |
| Down payment | Varies based on use of funds | Generally 10%, can be up to 20% | Varies based on use of funds |
| Collateral | Can be secured or unsecured, depending on use of funds | Secured by property or equipment | Can be secured or unsecured, depending on use of funds |
Uses
- SBA 7(a) Loan: Flexible; working capital, inventory, debt refinancing, purchasing another business, etc.
- SBA 504 Loan: Buy or improve major fixed assets like commercial real estate, long-term equipment, upgrades, or expansion
- SBA Express Line of Credit: Flexible; manage cash flow, seasonal gaps, emergencies, etc.
Maximum loan amount
- SBA 7(a) Loan: Up to $5,000,000
- SBA 504 Loan: Up to $15,000,000
- SBA Express Line of Credit: Up to $500,000
Term
- SBA 7(a) Loan: 2 to 25 years
- SBA 504 Loan: 10, 20, or 25 years
- SBA Express Line of Credit: 10 year term, use as a line of credit for 2 years, then converts to 8 year repayment period
Prepayment penalty
- SBA 7(a) Loan: Only applicable for terms of 15 years and up, declines as years pass
- SBA 504 Loan: Varies, but declines as years pass
- SBA Express Line of Credit: N/A, use it and pay it off again and again
Interest rate
- SBA 7(a) Loan: Can be fixed or variable
- SBA 504 Loan: Fixed
- SBA Express Line of Credit: Variable
Access to funds
- SBA 7(a) Loan: Varies depending on the project; typically a one-time lump sum disbursement
- SBA 504 Loan: Varies depending on the project; typically a one-time lump sum disbursement
- SBA Express Line of Credit: Borrow as needed up to a set amount
Down payment
- SBA 7(a) Loan: Varies based on use of funds
- SBA 504 Loan: Generally 10%, can be up to 20%
- SBA Express Line of Credit: Varies based on use of funds
Collateral
- SBA 7(a) Loan: Can be secured or unsecured, depending on use of funds
- SBA 504 Loan: Secured by property or equipment
- SBA Express Line of Credit: Can be secured or unsecured, depending on use of funds
Connect with Us
Our knowledgeable and experienced bankers are ready to help.
Scale Your Success
Expand your financial capacity with our integrated business banking solutions, designed to scale with your goals.
CREDIT CARDS
Flexibility designed for your success
- Designed for business owners
- Flexible and convenient
- Manage expenses and authorized user spend with ease
- Cashback rewards
CASH MANAGEMENT
Gain more and seize growth opportunities to scale up
- See all bank and credit card activity in one place
- Track profitability in real time
- Visualize business cash flow with projections to plan for seasonality
ADDITIONAL OPTIONS
More ways to upgrade your account
- Treasury Prime for ultimate control over business accounts
- Sweep Accounts
- Zero Balance Accounts
- eWires: send domestic and International wires quickly
Expert Insights
Navigate your business confidently with expert knowledge and guidance.
How to Get a Business Line of Credit for a New Business
We've got some simple steps to help you prepare to apply with the best chance of success.
How to Establish and Build Business Credit
Strong business credit allows you to access better financing options, lower interest rates, and higher purchasing power.
10 Strategies to Optimize Cash Flow Management
Good cash flow management is crucial to grow, stay relevant, and have a successful business overall. You can use several strategies to keep cash flow open, and WaFd Bank is here to help.
Frequently Asked Questions
*Loans subject to approval.