Small export business in Georgia may be able to get help to launch or expand through a new federally-backed program offering loans up to $500,000.

And businesses will know if they’re approved fairly quickly.

The Small Business Administration will provide answers in less than than 36 hours.

The SBA has executed an agreement with nine lenders in Georgia to offer the Export Express program.

The SBA Export Express program touts flexibility to both, borrowers and lenders. It is the simplest export loan product offered by the SBA and allows participating lenders to use their own forms, procedures and analyses. Loans made through Export Express, up to $350,000, have a 90 percent guaranty and loans between $350,000 and $500,000 have a 75 percent guaranty. Loan proceeds may be used for business purposes that will enhance a company’s export development.

Export Express can take the form of a term loan or a revolving line of credit. As an example, proceeds can be used to fund participation in a foreign trade show, finance standby letters of credit, translate product literature for use in foreign markets, finance specific export orders as well as to finance expansions, equipment purchases, and inventory or real estate acquisitions.

For more information, visit www.export.gov.

SBA Export Express Lenders in Georgia

• Colony Bank

• First Intercontinental Bank

• First National Bank of Coffee County

• Metro City Bank, Private Bank & Trust Company

• Queensborough National Bank & Trust Company

• Quantum National Bank

• State Bank & Trust Company

• United Community Bank