Small Business Administration (SBA) 7(a) Patriot Express Loan Program

A subprogram of the SBA 7(a) Loan Program, the SBA 7(a) Patriot Express Loan program is designed to provide veterans and families of veterans with funding to establish or expand a small business.

Eligible Borrowers:

• Veterans and service-disabled veterans
• Active-duty members in TAP
• National Guard members and reservists
• Current spouses of the aforementioned
• Widowed spouse(s) of a service member or veteran who died during service or of a service-connected disability

Loan Amounts

• Maximum: $500,000
• Minimum: $50,000

Guaranty Percentages

• 85% up to $150,000
• 75% over $150,000 up to $500,000

Terms

• Working capital: Up to 7 years
• Equipment: Up to 10 years
• Fixed assets (real estate): Up to 25 years

Approved Uses of Proceeds

• Land acquisition
• Construction or renovation
• Purchase of machinery or equipment
• Purchase of furniture or fixtures
• Working capital
• Inventory
• Seasonal line of credit
• Refinancing existing debt
• Purchase of an eligible business