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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:

I am a retired Vet and Wondering if there is a loan that provides 100% financing. I'm looking to buy an established business.
Retired Vet. with 70% disability and good credit. Would like to know about 100% financing on a loan to buy a business that has a good history on sales, or to start up a franchise.
Hi Katie, What is out there now for vets and a small business loan
My husband wans to start a group home for veteran he is a vet as well . My husband needs capital to get the homes what loans can he get and how much.
I am a 100% service connected vet...I have been in and out of homeless and substance abuse centers for several years. At one time I was a federal corrections officer.I would like to give back the help that I received.I know I can help others to overcome this sickness while I provide a home and a safe environment. I see people every day that I need to help and it breaks my heart that I can not. I was taught that we leave NOBODY behind. How can I do this???
I see it was for fiscal year 2014. In 2016 what sort of assistance could I recieve with a loan for a franchise. I have worked for their corporate branch and have years upon years of experience in this field and am seriously considering taking a franchise on.
Hey, teach me what you learn about buying a franchise. I as well want to buy one and am very confident with the experience I have in this field. I need 100% financing and wonder if SBA still gives out loans to veterans. Thanks, Erin
Katie: I own a small consulting business doing executive search. I'm a former Captain and Ranger in the US Army. I want to expand. How do I start?
I am a disabled vet and am drawing va comp at 10% and ssi benifits of 656.00 a month i am involved in a business as an affilate markerter i pay 19.95 a year for membership i also have a website and incentive programs i recieve commisions on getting people to join the program and on their purchaces i need a need computer and also to install slackware on it and i also need to purchace a program to generate leads to my site any assistance you provide would be helpful as i would like to get back to work and off assistance
I am a disabled vet and I would like to build housing units for disabled veterans on a parcel of property I own. I have no start up capital but work a full time job. Can anyone tell me how to get started?

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