SBA Offers New Patriot Express Pilot Loan
This initiative is aimed to streamline business loans for military members and veterans
The U.S. Small Business Administration (SBA) has created a new streamlined loan program for the nationís soldiers and their families. Called the Patriot Express Pilot Loan Initiative, it is available to military community members including veterans, service-disabled veterans, service members leaving active duty, Reservists and National Guard members, spouses of any of the above, and the widowed spouse of a service member or veteran who died during service or of a service-connected disability.
SBA has seen strong interest from the lending community for this initiative. More than 150 banks have been approved to participate in Patriot Express, including many of SBAís largest lenders. More lenders continue to apply every day.
Loans are available up to $500,000, with differing collateral requirements and interest based on the size of the loan and individual bank requirements. The Patriot Express Pilot Loan Initiative can be used for most business purposes. Details on the initiative can be found at