Home > Entrepreneurship/Business Ownership > The U.S. Small Business Administration Programs (Reserve Component)
Since 1953, the U.S. Small Business Administration has helped Veterans start, manage and grow small businesses. Today, the SBA provides specific programs for Veterans, Service-Disabled Veterans, and Reserve and National Guard Members, and they offer a full range of entrepreneurial support programs to every American, including Veterans. Their job is to help you successfully transition from world’s finest warrior to world’s finest small business owner.
On August 17, 1999, Congress passed Public Law 106-50, The Veterans Entrepreneurship and Small Business Development Act of 1999. This law established the SBA Office of Veterans Business Development, under the guidance and direction of the Associate Administrator for Veterans Business Development, to conduct comprehensive outreach, to be the source of policy and program development, initiation and implementation for the Administration, and to act as an Ombudsman for full consideration of veterans within the Administration.
In addition, this law created the National Veterans Business Development Corporation, set goals for federal procurement for Service-Disabled Veterans and Veterans, established the Military Reservists Economic Injury Disaster Loan, initiated new research into the success of Veterans in Small Business, and brought focus to Veterans in the full range of SBA Capital, Entrepreneurial, and Government Contracting programs.
SBA has established Veterans Business Outreach Centers, special loans and Surety Bonding programs for Veterans and Reservists, government procurement programs for Veterans, Veterans Business Development Officers stationed in every SBA District Office, special District Office outreach efforts, & counseling and training at more than 1,500 Small Business Centers and SCORE Chapters, and on line.
Special Localized Programs
Special local initiatives target Veterans, Service-Disabled Veterans, & Reserve and Guard members,. On line and printed Business Planning Guides are available, including: Balancing Business and Deployment for self-employed Reserve and Guard to prepare for mobilization, and Getting Veterans Back to Business to assist in restarting or reestablishing your business upon return from active duty. These manuals include an interactive CD with a wealth of information on preparing your business and your employees for your absence, re-establishing a small business upon return from Title 10 activation and information on various business assistance resources available to assist you. The CD’s also contain information on loans, government procurement and the full range of SBA’s assistance to any veteran.
To learn more about the services and assistance SBA offers to Veterans, Service Disabled Veterans and Reservists, please explore the links below, or follow-up to our local district offices and programs located in or near the community you return home to.
The Patriot Express Pilot Loan Program
Patriot Express Pilot Loan was created by SBA, to offer financial, procurement, and technical assistance programs to the military community. Patriot Express is a streamlined loan product with enhanced guarantee and interest rate characteristics.
Patriot Express is available to veterans, service-disabled veterans, active-duty Service members participating in the military’s Transition Assistance Program, Reservists and National Guard members, current spouses of any of the above, spouses of any Service member and the widowed spouse of a Service member or veteran who died during service, or of a service-connected disability.
The Patriot Express Loan is offered by SBA’s network of participating lenders nationwide. It
features SBA’s 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.
Patriot Express Loans feature 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. Local SBA district offices will have a listing of Patriot Express lenders in their areas. More details on the initiative can be found at http://www.sba.gov/patriotexpress.
