The Patriot Express loan is for veterans and members of the military community wanting to establish or expand a small business. Eligible military community members include: Veterans; Service-disabled veterans; Active-duty servicemembers eligible for the military's Transition Assistance Program; Reservists and National Guard members; Current spouses of any of the above, including any servicemember; The widowed spouse of a servicemember or veteran who died during service or of a service-connected disability. The Patriot Express loan is offered by SBA's nationwide network of private lenders and features the fastest turnaround time for loan approvals. Loans are available up to $500,000 and qualify for SBA's maximum guaranty of 85 percent for loans of $150,000 or less and 75 percent for loans over $150,000 up to $500,000. For loans above $350,000, lenders are required to accept all available collateral. The Patriot Express loan can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, and 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. Your local SBA district office will have a listing of Patriot Express lenders in your area. More information is available at www.sba.gov/patriotexpress.
Contact Information
Small Business Administration
Small Business Administration
SBA AnswerDesk
Office of Capital Access
1-800-827-5722