Is the SBA Patriot Express loan still available?
Short answer
No. The Patriot Express Pilot Loan Initiative ended December 31, 2013 (80 FR 80872). Veterans can use SBA Express today, where the upfront guaranty fee is $0 for eligible veteran-owned businesses (13 CFR 120.220(a)(3)).
No. The Patriot Express Pilot Loan Initiative ended December 31, 2013. SBA confirmed that in a later Federal Register notice (80 FR 80872, December 28, 2015).
What it was
Patriot Express began in 2007 and was built on the SBA Express program. It offered a 75 to 85 percent guaranty rather than the 50% on SBA Express. The maximum was $500,000, for businesses owned by eligible members of the military community (75 FR 77935).
What is available now
- SBA Express: a loan or line of credit of up to $500,000, with a 50% guaranty (SOP 50 10 8.1, Sec. B, Ch. 2).
- The upfront guaranty fee on SBA Express is $0 for businesses a veteran or veteran's spouse owns and controls (13 CFR 120.220(a)(3)).
- 7(a) Small and Standard 7(a) loans carry 85% on loans of $150,000 or less and 75% on larger loans (Appendix 16, Para. A.1).
SOP 50 10 8.1 lists no veteran-only loan program.
If you still have a Patriot Express loan
An outstanding Patriot Express loan counts toward the $500,000 aggregate limit for new SBA Express borrowing (Sec. B, Ch. 2, Para. B.1). Your loan's own terms still govern it.
Ask lending partners about your loan
Tell us the amount you need and what it is for. We refer you to lenders that may fund businesses like yours, and it costs you nothing.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.