SBA SBA Loan Programs & Lending Requirements 3

Question 1

What is the purpose of the SBA Export Express loan program?

Accepted Answer

Support small businesses entering or expanding in export markets

Answer

Finance domestic inventory

Answer

Purchase commercial real estate

Answer

Cover payroll during slow seasons

Question 2

Which SBA loan program is administered through nonprofit community-based intermediary lenders?

Accepted Answer

Microloan

Answer

7(a) Loan

Answer

504 Loan

Answer

CAPLines

Question 3

What happens to an SBA loan if the borrower defaults and the SBA pays the lender's guarantee?

Accepted Answer

The SBA pursues the borrower for repayment

Answer

The loan is forgiven

Answer

The collateral is automatically released

Answer

The lender absorbs the remaining loss

Question 4

Under the SBA 7(a) program, what is the guarantee fee called that borrowers typically pay?

Accepted Answer

SBA guaranty fee

Answer

Origination fee

Answer

Annual service fee

Answer

Processing fee

Question 5

What is the maximum loan amount for an SBA Express loan?

Accepted Answer

$500,000

Answer

$150,000

Answer

$350,000

Answer

$1 million

Question 6

Which SBA lending program is specifically designed to help businesses affected by declared disasters?

Accepted Answer

SBA Disaster Loan

Answer

SBA CAPLines

Answer

SBA 504 Emergency

Answer

SBA Microloan Emergency Fund