The SBA introduced the Patriot Express Pilot Loan Initiative in June 2007, modeling the program after its Express Program started in 2002. This federal program turns military veterans into entrepreneurs, recognizing their entrepreneurial instincts.

Soldiers and sailors show discipline and a true grit when times are tough. Long hours, hard work and meager facilities equip military men with necessary skills for starting and surviving in business. The “can do” attitude drilled into soliders is just the right skill for starting and building a sucessful business.

The Patriot Express program expedites many of the document processing procedures by reducing the paperwork required and allowing participating financial institutions the approval authority. The SBA program offers guarentees to participating financial institutions, making the financial institutions much more willing to grant business loans.

New small businesses jump start lagging economies for states involved in the program. States also recognize the potential of small businesses become much larger businesses over time. It’s a win-win situation for both veterans and the states in which they live. Military members get the opportunity to apply their skills; states gain revenues.

The Patriot Express program guarantees up to $500,000 in business loans for a new or expanding business. The program offers benefits to National Guard, active duty military ready for retirement, reservists, veterans and spouses and children of deceased military veterans. For more information go to the SBA Patriot Express Program