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Finally, your character will be examined, which for patriot express loan program applicants means, at the very least, requiring honorable discharge papers in the form of a DD 214. This is the most subjective aspect of the application process and is when the SBA and lenders size you up personally to determine whether or not you are trustworthy. They will consider your education, both your personal and work experience and the quality of your references nurse loan repayment
Is the Patriot Express Loan Still Available .
Veteran’s: The statistics have shown you are excellent business owners – you have developed the skill sets! Not only have you proven, execution skills, drive, determination and team work, you continue to move forward under pressure. These are all terrific attributes for a successful business.
Over the course of the years, through the unassuming and transparent thread that ties us together, our military stands as the pre-eminent beacon of freedom.
As the largest lender to our veterans and their spouses, I have witnessed first-hand what terrific business owners they are – and how successful they become. The military gives us truly valuable and well-disciplined business owners.
I was speaking with a recently retired veteran; we were discussing what his options were in today’s economy. He felt he did not have any skill sets for owning his own business. After spending several hours with him, he realized he already possessed the right ingredients to be a highly successful business owner:
All those attributes make a highly successful business owner. The good news is I was able to help him obtain his goal of owning a business, by offering a SBA Patriot Express Loan = Veteran’s Advantage loan. Our loans are simple and easy: they require no collateral, simple interest, and are in the business name.
These loans work; we have made more loans to our military men, women and spouses than any other lender.
It’s time! Start making it happen. Become a success!
Begin the process by clicking here prosper personal loans review
SBA Loan Patriot Express Pilot Program: Dangers - loan.com
SBA Patriot Express Loan Program Lendio
Streamlined Processing The Patriot Express Pilot Loan program highlights the combination of its streamlined processing mechanism for faster loan closings, larger maximum loan limits for larger projects, and lower contractual interest rates are usually reserved for the larger SBA loan programs. Should the Patriot Express program execute on its deliverables then these newly-eligible franchise operators will also have an additional capital resource to secure project financing for franchise start-ups and acquisitions of existing units. The most notable highlights that benefit both borrowers and participating lenders of the Patriot Express Pilot Loan program in comparison with the current 7(a) and SBAExpress loan programs are detailed as follows: • The maximum loan limits with the Patriot Express Pilot is $500,000 as compared with the maximum limits of $350,000 under the current SBAExpress loan program. The increase in maximum loan limits will grant those eligible franchise operators with access to those franchise concepts in the next higher investment tier level. After typical equity injection requirements in the 15 percent to 30 percent range, total project cost can now range as high as $700,000. • For participating lenders, the SBA will provide a loan guaranty of up to 85 percent for Patriot Express loans up to $150,000 and a loan guaranty of up to 75 percent for loans above $150,000. This is a contrast to the current maximum 50 percent SBA loan guaranty for all SBAExpress loans. As participating lenders must still use their existing prudent collateral practice for express loans, the increased guarantee however provides greater incentive to finance larger loan requests and the next higher tier level investment of franchise systems. • The Patriot Express Loan interest rates can be as low as prime-plus 2.25 percent which may be a typical spread charged over the prime rate within the larger 7(a) loan program to relatively lower credit risk of the borrowers and overall transaction. The Patriot Express Loan program interest rate range is generally 2.25 percent to 4.75 percent over the prime rate depending upon the size and maturity of the loan.
• The existing SBAExpress lenders and Preferred Lender Program lenders that elect to participate in the Patriot Express Pilot Loan Initiative will be required to satisfy and maintain the same proficiency and performance standards the SBA has established for participants in the SBAExpress or PLP program.
In addition to the loan program, the new Patriot Express Pilot Initiative will also include additional SBA resources for small-business operators with alliances to the military community. The program will provide this base of small-business operators with advice and counseling through the SBA district offices, the SBA’s resource partners at SCORE, the Small Business Development Centers, and the Women Business Development Centers.
Should franchise companies wish to learn more about the Patriot Express Pilot Loan initiative program and how it may more particularly benefit those with military backgrounds in the franchising industry, they can visit the Web site, www.sba.gov/patriotexpress. To locate an SBA district office, go to www.sba.gov. SCORE counselors with expertise in supporting veteran entrepreneurs are available online 24 hours, seven days a week with a 48-hour response time at www.score.org/veteran.html.
Patriot Express program from the SBA
Expedite the small business lending process with an SBA Express Loan. The program reduces the number of government-mandated forms, streamlines loan processing and lets Associated Bank respond to you more quickly.
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