The SBA Express loans can be used for the same purpose as SBA 7(a) loans. The usual turnover time for SBA Express loans is 36 hours, which is much faster than SBA 7(a) or CDC/504 loans that take up to three months. SBA Express loans offer expedited government-backed loan application processing for small business owners. The CDC/504 loan can have a funding amount of up to $5 million (or $5.5 million for some businesses) with a repayment period of five to 25 years. It cannot be used to cover working capital needs or refinancing debts (unless they used the debt for commercial real estate acquisitions, constructions, or buying equipment). The SBA CDC/504 loan is a less flexible SBA loan option designed to help businesses fund specific business growth opportunities such as acquiring commercial real estate, constructing/renovating commercial spaces, or buying expensive equipment.

The proceeds can be used towards any business need, including acquiring commercial real estate, purchasing equipment, addressing day-to-day expenses, business expansion, reordering large inventory, refinancing debt, and taking on a big business opportunity such as a business acquisition.

Once approved, businesses can get up to $5 million in funding with a maximum repayment term of 25 years. The SBA 7(a) loan is the most sought-after SBA loan. The most common SBA loans that businesses typically apply for are SBA 7(a) loans, CDC/504 loans, Express Loans, and Microloans.

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