 | | business start-up |
SBA Approves Loans Under New Patriot Express Initiative
Loans Go To Military Service Members, Veterans, and Spouses The U.S. Small Business and its network of lenders approve loans under the Patriot Express Pilot Loan Initiative for military community entrepreneurs. Loans are available up to $500,000 and qualify for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less and up to 75 percent for loans over $150,000 up to $500,000. For loans above $350,000, lenders are
required to take all available collateral to secure the loan and may obtain
collateral for smaller loans depending upon individual bank requirements.
Patriot Express is available to military community members including
veterans, service-disabled veterans, service members leaving active duty,
Reservists and National Guard members, current spouses of any of the above,
and the widowed spouse of a service member or veteran who died during
service, or of a service-connected disability. HBM
The Patriot Express Pilot Loan Initiative can be used for most business purposes. Details on the initiative can be found at www.sba.gov/patriotexpress.
Previously published in the April 2008 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com
|
