The Small Business Administration (SBA) should be at the top of the list of great resources for veterans and disabled veteran owned businesses. The SBA is there for you when help is required for the many small business needs that are special to veterans. SBA Loans, 504 Express Loans, business mentoring, training and advice are available to veterans and spouses of disabled veterans. This government agency was designed to present information, training and other forms of assistance to small business owners such as yourselves.
One of the SBA Loans programs for disabled veteran owned businesses is the SBA Express loan program. This plan features accelerated response to applications, so veterans can get small business loans in an expedited fashion. Under the SBA’s Patriot Express Pilot Loan initiative, small business owners who are military veterans receive extra business training and counseling to help speed their success.
SBA Loans for disabled veterans are streamlined and quickly processed. SBA Express loans have only a 36 hour turnaround for reviews. Loans obtained through these Small Business Administration programs for veterans usually have low interest rates, and they are also available to veteran spouses and persons who are from distressed areas. The interest rates incorporate the prime rate, plus 2.25 to 4.75 percent; these are excellent, very low interest rates.
The SBA has approved lenders and district offices that are located across the country, so financial assistance is readily available to disabled veterans and other military veteran borrowers. Funding from these loans may be used for start up costs, buying inventory, internal management, recovery from disaster, expansion efforts and other plans. There is current information and assistance available for veterans who wish to sell products or services to the government or to move into the exporting business.
The SBA was established to help small business owners get off to a good start, to expand and grow. Disabled veterans are included in the list of small business owners who are offered this special opportunity for success; they should take advantage of all programs the SBA has for military veterans and families. With proper funding, education, training and advice, a small business dream can easily become a profitable reality.