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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:

kmurray
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:

Are you out there searching for a Business loan, Mortgage, Real Estate, Home loan and many more or have you been turn down by your bank or other agency then i will advise you to contact Mr. Jon Billy to get a legitimate loan today with better repayment schedule, no social security number is required and no credit check required, 2% interest rate. He can be reached via his email; (jonfunding@zoho.com) with your names and also the amount needed as loan. POSTED BY A COSTUMER WHOM WAS HELPED BY THE FIRM. Amy Freeman.
I am a disabled veteran and wanting to buy an established existing company. Are there opportunities or loans that would not require out of pocket money from me and get 100% financing?
I would like to buy an operating Marina that has been in business 25 years with good financials, can I borrow the asking price with 10 % down?The price is $3,000,000
I am a disabled veteran and want to start an Solar panel sales and installation business. Are there any business loans available ?
Hi Katie, I'm a veteran and a licensed Ca Real Estate Agent. I need a loan for 25k so I can open a office in Southern Ca. I currently owned a office in Northern Ca. Can you tell me how to go about getting one through SBA as a veteran?
Hi, I'm a veteran, recently retired(2012) from a public sector job in Ithaca NY, and would like to start a new business selling plants out of our greenhouse that we are having built on our property. I'd like to make it energy efficient (solar) and apply for the corresponding tax credits. We would need a small business loan to do this as our finances are slim, now that both my wife and I are not working. This is quite a daunting task for us and we need all the help we can get to make this a reality. Can you send me in the right direction to get more information? Frank Eggleston
Katie, do you have any information about the beginnings of the Patriot Loan program back in 2006 - 2007? I thought their was a group from Annapolis that did some gropund work on the program.
Hello, So I am getting an MBA in Australia and looking to start a business importing products from China. I have a great product just need a loan and possibly some help setting up the company in San Diego. I am a disabled veteran that served six years in the Navy as a Search and Rescue operator. Any help would be nice John
What would be the first step in applying for a SBL
I am a Veterans and I want to start a business as a freight agent/broker. does any one have an idea of where to go within the SBA community to find free training. Any assistance would be greatly appreciated. Getting nowhere fast! Thanks

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