Are you active duty military or a veteran? Have you been thinking about starting your own small business?
The SBA has some great news for you. You may be able to borrow up to $500,000 with an SBA guarantee program called “The Patriot Express”. Check it out.
The Small Business Association’s Patriot Express loan is offered by SBA’s network of participating lenders nationwide and features the SBA’s fastest turnaround time for loan approvals. Loans are available up to $500,000 and qualify for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less and up to 75 percent for loans over $150,000 up to $500,000. For loans above $350,000, lenders are required to take all available collateral.
The Patriot Express loan can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases.
Patriot Express loans feature SBA’s lowest interest rates for business loans, generally 2.25 percent to 4.75 percent over prime depending upon the size and maturity of the loan. Your local SBA district office will have a listing of Patriot Express lenders in your area. You can read more about these amazing loans here.