FAIRHAVEN, Mass. – The U.S. Small Business Administration last week approved First Citizens’ FCU to offer member business loans using the SBAExpress and SBA Patriot Express Loan Programs.
These new programs will accompany other SBA loan opportunities currently offered by the $575-million credit union, including SBA 7a, SBA 504 and SBA Rural Lender loans.
The new loan products streamline small business loan requests, start-up business operations, working capital, account receivable funding and small business expansions, the two parties said.
The SBA said its SBAExpress program gives small businesses a faster turnaround time for review. In addition, lower interest rates can be available when applying through an Express program.
The SBA Patriot program is designed for veterans and members of the military community wanting to establish or expand their small businesses.
