WASHINGTON — In just under a year's time, the Small BusinessAdministration's Patriot Express pilot loan initiative has approvedmore than $150 million in loan guarantees to nearly 1,500 veteransand their spouses, the agency said.
Launched on June 28, 2007, Patriot Express builds on the morethan $1 billion in loans SBA guarantees annually for veteran-ownedbusinesses, and the counseling assistance and procurement supportit provides each year to more than 100,000 veterans,service-disabled veterans and Reserve members, according toSBA.
A number of credit unions have been approved to offer the loans,which can be used for start-up, expansion, equipment purchases,working capital, inventory or business-occupied real-estatepurchases.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
