Community Express Authorization Template
View the Community Express Authorization in Word format.
U.S. Small Business Administration
AUTHORIZATION (COMMUNITY EXPRESS LOAN)
SBA Loan# [Number]
U.S. Small Business Administration
[SBA Field Office's Name]
[Address]
[City, State, Zip]
Lender:
[Lender's Name]
[Address]
[City, State, Zip]
SBA approves, under Section 7(a) of the Small Business Act as amended, Lender’s request, received [Date] for SBA to guarantee [Percent Guaranteed] of a loan in the amount of $[Loan Amount] to be made by Lender to assist:
Borrower: [Name, dba, Address, City, State, Zip for each borrower]
This Authorization is subject to the application submitted by Borrower and the following terms and conditions:
-
Lender must comply with current SBA Standard Operating Procedures, SBA Loan Guarantee Agreement, and the Community Express Supplemental Guarantee Agreement between Lender and SBA.
-
Lender must make first disbursement of the loan no later than [number of months] months, and complete disbursement no later than [number of months] months, from the date of this Authorization. For a revolving line of credit loan, Lender must make no disbursement of this loan beyond the maturity date.
-
For loans with a maturity of more than 12 months, Lender must pay a guarantee fee of 2% of the amount guaranteed for loans of $150,000 or less (Lender may retain no more than 25% of this fee) and 3% for loans of more than $150,000 to the Small Business Administration, Denver, CO 80259-0001, within 90 days of the date of this Authorization. For loans with a maturity of 12 months or less, Lender must pay a guarantee fee of .25% of the amount guaranteed to the same address within 10 days after SBA issued the SBA Loan Number. The guarantee fee for this loan is $[Amount].
-
Lender must have Borrower execute a Note containing the following repayment terms: [Repayment Terms]
-
Lender must have evidence that proceeds of loan were used for the following eligible business purposes: [Show specific uses for which loan is authorized, broken down by category. Total of all categories must equal total loan.]
-
Lender must satisfy the following collateral conditions: [List all collateral that will secure loan, including Personal Guarantees, if any. Specify lien position and title evidence required.]
SMALL BUSINESS ADMINISTRATION
Administrator
[Approval Date]
By: [Name, Title]
As a Community Express Lender, as Lender and as an Agent of and on Behalf of SBA for the purpose of executing this Authorization (Rev. 10/19/04)
