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.
The SBA and its resource partners are focusing additional efforts on counseling and training to augment this loan initiative, making it more accessible and easy to use.
Patriot Express loan proceeds can be used for most business purposes, including Start up costs Equipment purchases Business-occupied real-estate purchases Inventory Infusing working capital Managing your business Expansion Preparing your business for the possibility of your deployment Setting up to sell goods and services to the government Recovery from declared disasters.
Patriot Express loans feature the 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.