SBA 504 ALP Express Program is Here!
(Accredited Lenders Program)
SBA has temporarily expanded authority until September 30, 2023 to offer the SBA 504 ALP Express Loan Program. This program creates an expedited path to approving, closing, and servicing 504 loans that are $500,000 or less and meet ALP Express eligibility requirements.
Overall, ALP Express helps speed up the process of getting financing to small businesses! In addition, while the ALP Express Loan authority will provide expedited processing for certain smaller loans, it will also allow SBA to focus resources on larger, more complex loans which will improve all SBA 504 Loan approval times.
Covered loans include 504 loans up to $500,000 (gross debenture) that are not made to a borrower in an industry with a high rate of default, as defined by SBA. *Currently, SBA does not have any industries that are defined as a “high rate of default”.