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Business Loan Opportunities for Military Veterans in 2014

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Business Loan Opportunities for Military Veterans in 2014

By kmurray, Contributor and Moderator
Published: January 22, 2014 Updated: January 24, 2014

The service of veterans has done a tremendous amount for the United States – on our own soil and around the world. Many continue their contributions to the country by channeling their skills and leadership into entrepreneurial endeavors that help strengthen our economy.

And now through the rest of the fiscal year, SBA’s Express Loan Program will make it easier to get loans in the hands of veterans so they can succeed in their business ventures.

Loan fees

Through the end of September, SBA has set the borrower upfront fee to zero for all veteran loans authorized under the SBA Express program, which supports loans of up to $350,000.

Additionally through the end of the fiscal year, fees on all loans (and not just for veterans) $150,000 and under are set to zero. 

These initiatives make the loans cheaper for the borrower, which is just another way SBA is looking to serve small business owners – and those veterans who have served us – as they look for ways to access capital.

About the Express Loan Program

One great feature of the Express Loan Program is that it has an accelerated turnaround time for SBA review. You’ll receive a response to your application within 36 hours.

With a fast turnaround, streamlined process and easy-to-use line of credit, this program is SBA’s most popular loan delivery method – nearly 60 percent of all 7(a) loans over the past decade being authorized through the program. Since the program began, it has also been one of the most popular delivery methods for getting capital into the hands of veteran borrowers.

Getting started

Interested in exploring loan options to get your business started? Check out these loans that fall under Express Program standards. Our business loan checklist can also help prepare you for the application process, in addition to taking a look at the credit factors lenders will consider when you apply for an SBA-backed loan.

In the transition from military service to customer service, you’ll find great resources from SBA to help you find success. And if you’re looking for funding to get your business off the ground, these loan perks may make it possible to do just that.

Related Resources

About the Author:

Katie Murray

Contributor and Moderator

I am an author and moderator for the the SBA.gov Community. I'll share useful information for your entrepreneurial endeavors and help point you in the right direction to find other resources for your small business needs. Thanks for joining our online community here at SBA.gov!

Comments:

Really nice.
This is amazing! Can you provide me with a list of the banks that specialize in this program for the sBA in California. Every bank I call said they are not familiar with VA express
I could use some new equipment for my business. What are the interest rates on these loans?
I am a vet as well and I am having such a hard time finding a place that will loan me about $50,000 - $75,000 to start a business. I have a completed business plan together and and just need the money to start my business. Can anyone please help me? Also, this "Business Loan Opportunities for Military Veterans in 2014 who offers this loan and where can I get the application to apply, as I though the SBA does not give out loans? Can someone please help me. My email address is: [This comment was edited. Please review the Community Rules of Conduct for more information.] I would so apprechiate the help, more than you can ever imagine?
Having funding for veterans in small business is invaluable in our society. I think it's great to give veterans the opportunity to succeed after they have served our country in the most unselfish way.
I think any scheme that helps people that were willing to put their lives on the line for their country deserves everyones full backing.
This could be gret for me I just started a new business (im a personal trainer) my gym closed down and I decided to take my students with me so now I need to really look into funding.. maybe this would be good for me. Thanks!
This is a valuable resource not only for small businesses, but also for veteran owned businesses. I wish I had thought about this site before. Great article!
It's really good to know about these fast-track and easy-to-process loan process for military veterans for their small business. It will definitely bring a great positive change.
Its really a good gesture to motivate military veterans to come forward & do something or endeavor in small business. The basic of any business is financial aspect & when the same is available in a low or nil rate of interest, then there is nothing more to ask for.

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