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SBA Express Loans for Veterans

If you’re a veteran who wants to get an SBA Express loan, the Small Business Administration is committed to making the process as easy as possible. Through the SBA’s Veteran Advantage program, veterans and other qualified individuals, such as the widowed spouses of veterans who died during service, can qualify for a variety of benefits, including an upfront discount on the SBA’s loan guaranty fee.

Fee Relief Under The SBA Veterans Advantage Program

.If you qualify for the SBA Veterans Advantage program, and you want to take out an SBA Express loan, your upfront guaranty fee will be reduced to 0%. For SBA 7(a) loans, veterans can get a 50% discount on all guaranty fees. This comes out to:

  • Loans between $125,001 and $150,000:

    • 1.0% for loans with a term off more than 12 months

    • 0.125% for loans with a term of 12 months or less

  • Loans between $150,001 and $300,000:

    • 1.5% for loans with a term off more than 12 months

    • 0.125% for loans with a term of 12 months or less

  • Loans between $150,001 and $300,000:

    • 3.0% for loans between $300,001 and $700,000

    • 3.75% for loans between $700,001 and $5 million (3.5% of amount guaranteed up to $1 million, and 3.75% for the guaranteed amount above $1 million)

    • 0.25% for loans with a term of 12 months or less

Who Qualifies For The SBA Veterans Advantage Program?

In order to qualify for the SBA Veterans Advantage program, your business must be 51% owned by an eligible veteran. For the purposes of the program, eligible veterans include:

  • Veterans (except for those who have been dishonorably discharged)

  • Active duty service members enrolled in the Transition Assistance Program (TAP)

  • Current spouse of a veteran, active duty service member, reservist, or member of the National Guard

  • Widowed spouses of veterans or service members who died during service or as a result of service-related disabilities

Other SBA Benefits for Veterans

In addition to the SBA Veterans Advantage program, the Small Business Administration also offers a variety of other resources for veteran business owners. These include:

  • Boots to Business: Boots to business is an entrepreneurship training program developed by the SBA, and functions as a part of the Department of Defense’s Transition Assistance Program (TAP). Boots to Business helps service members transitioning to civilian life gain the skills to intelligently evaluate business concepts, create an effective business plan, and learn about the SBA’s various loan programs.

  • Office of Veteran’s Business Development: The Office of Veteran’s Business Development (OVBD), provides training, counseling and mentorship to veteran business owners, and provides policy recommendations to the SBA about how to make the SBA’s loan guarantee programs more available to veterans.

  • Veterans’ Business Outreach Centers: 19 organizations have partnered with the SBA to create Veterans’ Business Outreach Centers, or VBOCs in areas around the U.S. VBOCs help veteran entrepreneurs by providing training, mentoring, counseling, and referrals, and many host classes for the Boots to Business program.

  • Veteran Women Igniting the Spirit of Entrepreneurship: This program, also known as V-WISE, helps train female veterans in entrepreneurship and small business management. V-WISE includes three phases of training, including an online course, an in-person training event, and continuing mentorship from experienced women entrepreneurs.