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Patriot Express Pilot Loan Initiative
Overview
The U.S. Small Business Administration has announced the SBA’s Patriot Express Pilot Loan Initiative for veterans and members of the military community wanting to establish or expand small businesses. This is a true no doc business loan designed for start up businesses. This loan requires no financials to qualify. Gulf war veterans and all veterans are eligible to apply for this new small business loan.
Eligible military community members include:
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Veterans
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Service-disabled veterans
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Active-duty service members eligible for the military’s Transition Assistance ProgramReservists and National Guard members
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Current spouses of any of the above
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The widowed spouse of a service member or veteran who died during service or of a service-connected disability
Eligibility for Reservists and National Guard members is limited to current members of the Reserve or Guard (and their current spouses). Former Reservists and National Guard members (and their spouses) are not eligible, unless they qualify from active duty as Veterans.
Certified copy of a DD Form 214, which is provided for everyone other than dishonorably discharged veterans is required.
PROGRAM HIGHLIGHTS:
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Unsecured loan up to $50,000
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No Business Plan Required
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No Financials Needed
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No Pre-Payment Penalty
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Fund in 3 weeks
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Start ups ok!
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Some Historical Negative Credit may be Excused
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Establish Business Credit
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No annual fees
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Free to apply
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.
SBA Microloans up to $50,000
Obtaining loans through traditional lenders can be difficult for new businesses -- even if they have the SBA's backing -- because lenders prefer to loan to businesses with established financial histories. By avoiding traditional lenders, microloans are designed for new businesses seeking startup SBA backing. Apply for a SBA Micro loan today!
PROGRAM HIGHLIGHTS:
- Unsecured loan up to $50,000
- No Business Plan Required
- No Financials Needed
- No Pre-Payment Penalty
- Fund in 3 weeks
- Start ups ok!
- Some Historical Negative Credit may be Excused
- Establish Business Credit
- No annual fees
- Free to apply
Financial independence is the American Dream… and for many, acquiring a franchise is the surest path to realizing that dream.
Our status as a nation-wide Franchise SBA "Preferred Lender" affiliate has allowed us to achieve high praise and recognition in small business lending.
Obtaining financing for your franchise can be a daunting process. A recent study has shown that over 80% of small business loan applications are declined due to presentation alone! That’s where our experience comes in. Our full service loan specialists know exactly what lenders are looking for, and can expertly package your loan application to maximize your chance of approval.
Whether you are looking to:
- Start a franchise;
- Acquire an existing franchise;
- Or expand your territory through opening new locations;
Our experienced financial consultants stand by your side, start to finish! From pre-qualification, to packaging and presenting your application, to securing a financial commitment, and through the closing process, your "personal" SBA loan consultant is there. While you’re waiting, thousands of others are making their financial dreams come true. Don’t wait any longer! Pre-qualify now by completing a completely confidential, no-obligation Financial Analysis.
We have programs for minority small business loans, investment properties, commercial financing for apartments/multifamily units, healthcare/senior housing, condominium conversions, retail - anchored and unanchored, mobile home parks, office/medical buildings, industrial/warehouse, self-storage, gas stations/convenience stores, mixed-use properties, hotels, golf courses, resorts, gaming, outlet malls, religious centers of worship, land - raw and improved.
If you need SBA financing, you've come to the right place. Let us show you.
CALL 800.458.2771 NOW. Se Habla Español.
SBA Loan Program Target Industries
- Franchises
- Minorities
- Medical Professionals (Doctors, Dentists, Chiropractors, and all Veterinarian practices)
SBA loans available with no cash equity investment
- Attorney and CPA Business Acquisition Loans
Real Estate Project Financing
- Real Estate Construction
- Business Acquisition
- Manufacturing Businesses
- Franchises
- Contractor Loans
- Start-up Restaurants
- Machinery, Equipment, Leasehold Improvements
- Working Capital
SBA 504 Loan
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Loan Amounts
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Interest Rates
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Flexible structuring makes it easy to finance several uses into one low monthly payment.
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$50,000 - $5,000,000* total financing
*Larger requests may be considered
on a case by case basis.
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Competitive variable and fixed interest rates are available.
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Features
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Benefits
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Fees
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Higher loan to value than conventional loans (Up to 90% financing is available).
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- Smaller cash outlay for customer.
- Predictable loan payments over term.
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No balloon payments
No pre-payment penalties**
Origination fees of total financing plus other usual and customary closing cost (i.e. appraisal, environmental, title, recording and other fees).
* SBA charges a guarantee fee
** For loans with maturities of less than 15 years
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Loan Terms
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Program Qualifiers
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Loan terms range from 10 - 20 years.
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Businesses with Net Income under $2.0 million and Net Worth under $6.0 million. Proceeds are used for fixed-asset acquisition. NO WORKING CAPITAL IS AVAILABLE.
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SBA 7 a Loans
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Loan Amount
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Interest Rates
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Flexible structuring makes it easy to finance several uses into one low monthly payment.
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$50,000 - $2,000,000 total financing
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Competitive interest rates.
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Features
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Benefits
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Fees
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- Up to 90% financing available.
- Lower down payment.
- Longer repayment terms.
- Flexible use of proceeds.
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- More customers qualify.
- Smaller cash outlay for customer.
- Lower monthly payments.
- Combined different uses into one loan payment.
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No balloon payments
No pre-payment penalties**
SBA Guarantee fee plus customary closing costs (appraisal, environmental, title, recording and other fees).
* SBA charges a guarantee fee
** For loans with maturities of less than 15 years
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Loan Terms
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Program Qualifiers
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Loan maturity is calculated as a weighted average based on use. Working capital - 7 years; Equipment and Leasehold Improvements up to 10 years and Commercial Real Estate up to 25 years.
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Manufacturers - less than 500 employees; Wholesale businesses less than 100 employees; Retail and Service businesses less than $6.0 million in annual sales. Commercial real estate must be 51% or greater owner-occupied. Start up business loans must be secured.
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