SBA Veterans Advantage, beginning January 1, 2014 and continuing through September 30, 2014, is intended to facilitate lending to veteran-owned small businesses so that they have the tools they need to start and grow their businesses.
Businesses must be 51% or more owned and controlled by an individual or individuals in one or more of the following groups:
Currently, all SBAExpress loans (which include SBA Veterans Advantage Loan) of $150,001 to $350,000 have an up-front guaranty fee of 3%. To continue supporting America’s veterans, the SBA Veterans Advantage reduces the up-front guaranty fee from 3% to ZERO% for SBAExpress loans up to $350k approved to small businesses owned by qualified veterans. This policy announcement means that veteran borrowers will no longer have to pay an upfront fee for any loan up to $350,000 under the SBA Express program.
Of all SBA loans that go to veterans, 73 percent are $350,000 and below. The SBA Express Loan Program, which supports loans under $350,000, is SBA’s most popular loan delivery method, with nearly 60 percent of all 7(a) loans over the past decade being authorized through the program. Since the program’s inception, it has also been one of the most popular delivery methods for getting capital into the hands of veteran borrowers.
Before we can provide assistance, the U.S. Small Business Administration requires all clients to complete the Request for Counseling (Form 641).
This form will act as our Confidentiality and Code of Conduct Agreements. All client information is held in strict confidence. Counseling is FREE AND CONFIDENTIAL.
To start the process, please click on the "Contact us today" button below to access our electronic Request for Counseling form.
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