Small Business Loans

Military Veterans who own a business or want too start a new one can now apply for up to $500,000 dollars through a new federal loan program launched Wednesday June 13 th 2007.

U.S. Small Business Administration officials in Phoenix unveiled the Patriot Express Pilot Loan, which allows qualified, (Service Connected) veterans to apply for loans through certified banks.

Veterans own about 14% of al U.S. small businesses, the SBA said.

Those eligible for the program include veterans service-disabled veterans, active-duty service members, reservists and National Guard members as well as spouses of living vets and the spouses of service members who died during service.

The program is part of the SBA's Express Program, which typically provides a quick decision. The Patriot Express Pilot Loan can be used to fund a start-up, expansion and capital or real estate purchase.

For more information, visit www.sba.gov .

source: Arizona Republic