If you're a veteran, you could be in business right now, with the Small Business Administration (SBA) loan programs and services for veterans.
The SBA "Patriot Express" loan programs to help people in the military community open their own small businesses.
Patriot Express loans are 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.
SBA 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.
In addition, 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 Did you also 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.
