SBA Patriot Express
The newest program launched by the SBA is the Patriot Express. This program targets those in the military community who want to establish or expand a small business of their own. To be eligible for financing under the Patriot Express program you must be honorably discharged and fit into one of the following categories:
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VeteransService-disabled veterans
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Active-duty service members eligible for the military’s Transition Assistance Program
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Reservists and National Guard members
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Current spouses of any of the above
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The widowed spouse of a service member or veteran who died during service or of a service-connected disability
The SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative.
The maximum loan balance under Patriot Express Loans is $500,000; up to 90% financing; with the criteria for this program being the same as the 7(a) criteria.
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