A new program offering loans of up to $500,000 isn’t just popular with the vets — bankers like it, too.
The Small Business Administration’s new Patriot Express loan program is catching on with bankers because it has a huge potential audience of veterans. The pilot program carries up to an 85 percent SBA loan guarantee, making it attractive to lenders.
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The Small Business Administration (SBA) is an independent agency of the Federal Government, established by Congress to advise and help the Nation’s small businesses.
Even if you have been turned down by your local bank, a SBA lender may be able to help you. Many SBA lenders will give special consideration to minority and/or women owned businesses. You will still need to meet the credit criteria. These are loans not grants.
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