The U.S. Small Business Administration has announced the SBA’s Patriot Express Pilot Loan Initiative for veterans and members of the military community wanting to establish or expand small businesses.
Eligible military community members include:
- Veterans, Reservists, and National Guard members
- Service-disabled veterans
- Active-duty service members eligible for the military’s Transition Assistance Program
- Current spouses of any of the above or a widowed spouse of a service member or veteran who died during service or of a service-connected disability
Patriot Express Loan Initiative
The new Patriot Express loan is offered by SBA’s network of participating lenders, including Broadway Bank, and features our 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.
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.
Contact a Broadway Bank representative toll-free
at 888.777.0740 to assist you.