How do you obtain a veterans small business loan?


Quick Answer

To obtain a veterans’ small business loan such as the Military Economic Injury Loan, apply online directly with the U.S. Small Business Administration, explains the agency's official website. You can also apply for an export express loan by submitting the SBA Borrower Information form to a lender and meeting the requirements, which include having a business in operation for at least 12 months. The exact way to get a veterans’ small business loan depends on loan type and lender requirements.

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Full Answer

The Military Reservist Economic Injury Disaster Loan serves to provide eligible small businesses with funds for necessary and usual operating expenses in the absence of an essential employee who is also a military reservist called to active duty, notes the SBA. Applicants can file starting the day the military reservist employee leaves for duty. The loan lasts until one year from the reservist's release date from duty. Businesses can use the SBA’s Export Express Program to improve their companies' export development with activities such as funding real estate purchases or supporting expenses for foreign trade show participation. The flexible process allows lenders that participate in the program to use their own processes and forms.

SunTrust Bank's international trade financing representatives guide applicants through the loan process to find the right SBA export loan. As of 2015, the company offers an export express loan with a maximum amount up to $500,000 and provides a swift application response, according to the bank's website.

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