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In what could be considered the lending equivalent of adrive-thru window, the SBA Express program has guaranteed loans tothousands of entrepreneurs attracted by the program's fastapplication process. But it may shortchange some businesses:Despite the $250,000 lending cap, Express loans average about$45,000. Charlie Thomas, SBA's director of program development,says the modest loan values signal a strain of caution among SBAlenders adjusting to a new program. "Hopefully, lenders willlook at the longer term success of the business to forecastfinancial need," he says.

Tightfisted lenders haven't dampened entrepreneurs'enthusiasm for the program. Some 37,000 SBA Express loans wereapproved in fiscal year 2003, about half the SBA's total loansfor the year. The program was created as an affordable lendingresource for startups. The SBA defines eligible businesses asretailers with gross sales of $6 million or less, wholesalers with100 employees or less, and manufacturers with 500 employees orless. Banks can charge up to 6.5 percent above the prime rate forSBA Express loans, compared with a maximum 4.75 percent forSBA's 7(a) loans.