National-bank Small Business SBA 7(a), 504, and Express
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Existing BofA Small Business customers, SBA Express sub-$500K
Bank of America SBA — National-bank Small Business SBA 7(a), 504, and Express Best for: Existing BofA Small Business customers, SBA Express sub-$500K. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
Bank of America is consistently among the top SBA 7(a) lenders by dollar volume nationally, with PLP (Preferred Lender Program) status for faster in-house approvals. Its primary advantage is the integrated BofA Small Business banking relationship — if you already bank there, the SBA application leverages existing financial documentation. For businesses without a BofA relationship, a dedicated SBA specialist lender like Live Oak or a top-ranked regional like Truist may be equally competitive.
BofA's SBA Express program covers loans up to $500,000 with a faster decision cycle than the standard 7(a) program. SBA Express uses a delegated authority process that can reduce the lender's decision timeline compared to full 7(a) underwriting. Express is appropriate for working capital, equipment, and smaller acquisition needs; for loans above $500K, the standard 7(a) or 504 program applies.
Yes. BofA offers the SBA 504 program in addition to 7(a) and Express. SBA 504 is a two-lender structure: the bank (BofA) provides 50% of the loan at conventional terms, a Certified Development Company (CDC) provides 40% at a fixed SBA-set rate, and the borrower contributes 10%. The 504 is designed for commercial real estate and long-lived equipment — not for working capital or inventory.
Bank of America SBA loans generally require 680+ personal FICO, 2+ years in business, DSCR of 1.15 or higher, and SBA size-standard eligibility. Existing BofA Small Business banking relationships benefit from having financial documentation already on file, which can simplify the intake process. Confirm current criteria with a BofA SBA specialist, as underwriting standards can shift with economic conditions.
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