John Marshall Bank announced the addition of the SBA Express product suite, expanding its partnership with the U.S. Small Business Administration (SBA). This program is designed to provide small businesses in the DC Metro area with quicker access to funds and a simplified application process. SBA Express loans and lines of credit have a maximum amount of $500,000.
The bank's Preferred Lender Status grants it the authority to make certain loan approval decisions independently, streamlining the process for small businesses. This expedited approach is appealing to a broad range of small business owners seeking the benefits of SBA financing. The program complements the bank's existing SBA 7(a) and 504 loan offerings.
Jason McDonough, EVP, Chief Lending Officer, stated that SBA Express gives small businesses greater access to funding to facilitate their growth and fulfill their goals. Clients will also receive the bank's full suite of business banking services and the partnership of its dedicated small business banking team.
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