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Effective October 1, 2008, SBA introduced the newly restructured and enhanced Community Express Pilot Loan program, which has been redesigned to better focus SBA's financial and technical assistance resources on the needs of the Nation's underserved communities. Under this program, approved SBA lenders are being authorized to adopt SBA's most streamlined and expedited loan procedures to provide a unique combination of financial and technical assistance to borrowers located in these communities.
In restructuring Community Express, SBA has clarified the communities that are eligible, which generally comprise SBA's Historically Underutilized Business Zones (HUBZones) and those communities identified as distressed through the Community Reinvestment Act (CRA).
In addition, to encourage small businesses start-ups, SBA also makes eligible loans of $25,000 or less for Community Express, regardless of where small businesses are located.
Community Express Borrowers May Access SBA's Online Technical Assistance:
Borrowers seeking technical assistance under Community Express may access SBA's Small Business Training Network at: http://web.sba.gov/sbtn/sbat/index.cfm?Tool=1.
Additional Information:
http://www.sba.gov/services/financialassistance/7alenderprograms/comexpress/index.html
