How SBA and SBA Patriot Express mean business for veterans

Did you know that the Small Business Administration provides many services specifically for veterans who want to go into their own businesses?

The Veterans Business Outreach Program provides entrepreneurial development services such as business training, counseling and mentoring to eligible veterans owning or considering starting a small business. Currently, the SBA has defined for regions for Veterans Business Outreach Centers. The centers provide pre-business plan workshops, concept assessments, business plan preparations, comprehensive feasibility analysis, entrepreneurial training and counseling, mentorship and other business developmental related services such as international trade, franchising, internet marketing and accounting. The center locations and areas of coverage are:

The Small Business Administration (SBA) also offers the "Patriot Express" loan program to help people in the military community open their own small businesses.

Patriot Express is available to veterans, service-disabled veterans, active-duty military eligible for the military's Transition Assistance Program, Reservists and National Guard members, current spouses of any of these groups, and surviving spouses of members or veterans who died during service or from a service-connected disability.

Loans up to $500,000 may be used for business start-up, expansion, equipment purchases, working capital, inventory or business-occupied real estate purchases. Interest rates generally are 2.25 percent to 2.75 percent above the prime rate, based upon the amount and maturity of the loan.

Veterans' business development officers man SBA district offices in every state. They can provide lists of area Patriot Express lenders as well as additional small business advice and resources.

Did you know that the federal government's goal is to award three percent of all annual military contracts to small businesses operated by service-disabled veterans - a great boost for your military-related small business.

What are you waiting for? If you're a veteran, you could be in business - right now.