The Small Business Administration, also known as the SBA, has specific loan programs that are designed to provide startup capital as well as business financing for military veterans. The Small Business Administration allots millions of dollars each year to military veterans at very low interest rates. If you are a military veteran, then you qualify for a VA business loan through the Small Business Administration.
How to Get a VA Business Loan
Call the Small Business Administration answer desk at 1-800-827-5722. Ask a representative for the contact information for your state's local Small Business Administration.
Call your local Small Business Administration and tell the representative that you would like to apply for a VA business loan. The representative will then take down your information to see if you qualify and mail you a VA business loan application known as the "Patriot Express Pilot Loan Initiative". To qualify, you must be either an active service member, a retired military veteran, a disabled veteran or a spouse of any of the above.
Fill out the entire VA business loan application, check it over for errors, and return it to your local Small Business Administration office.
To fill out the VA business loan application known as the "Patriot Express Pilot Loan Initiative" online, go to www.SBA.gov and look up the "Patriot Express Pilot Loan Initiative". You can review the qualifications and print out the loan application straight from the website. Fill out the loan application and mail it to your local Small Business Administration office or deliver it in person.
Wait two to three weeks and then call the Small Business Administration at 1-800-827-5722 and inform the representative that you would like to check on your loan application. The representative can check the status of your loan application and tell you if you have been approved or denied for the VA business loan, and the reasons why.
For faster service, call the provided Small Business Administration contact numbers above and ask the representative to send you the "Patriot Express Pilot Loan Initiative" loan application and take it to your local Small Business Administration office in person.
For a faster approval process, apply for the Patriot Express Pilot Loan during the first few months of the year.
Stay away from business loan and grant scams. If you are asked to send money, then chances are that it is a scam. The Small Business Administration is a legitimate association that helps millions of people obtain grants and loans each year to start and run a small business.
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