business start-up

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.