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I joined up with USAA, by getting the Auto insurance and Homeowners insurance about six months ago. That move saved me big bucks.
- 29PalmzFinancial Questions & Answers
I wanted to know if there are any veteran programs through the Small Business Administration (SBA) to start up a new business or invest in an existing one. - Bill
It’s exciting to have a great idea for a new business. Now all you need is cash. Yes, there are monies available, but it’s a big step, so be sure to think through every detail before you leap. In recent years, the government has ramped up support of our servicemembers and veterans. A vastly expanded GI Bill, robust incentives for service and continued service, and programs like the Patriot Express loan program through the SBA are all examples.
And the Patriot Express may be exactly what you’re looking for. As is true with all SBA offerings, you’ll have to work through a participating lender, but it’s a huge opportunity, with loan amounts up to $500,000. Available to veterans, disabled vets, reservists, transitioning active-duty and even spouses of all these groups, the loans carry low interest rates and can be used for most business purposes, including startup, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases. The SBA also offers small-business training. This looks as though it might be just what the doctor ordered. Good luck.
Joe Mendoza
July 9, 2012 - 9:29pm
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Fantastic information, I was told that becoming a member of the American Legion had a ton of benefits, and already just from learning about the Patriot Express opportunity, I am excited to do my best as a member to give back to my fellow comrades and community members.
Joe Mendoza
July 9, 2012 - 9:30pm
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Fantastic information, I was told that becoming a member of the American Legion had a ton of benefits, and already just from learning about the Patriot Express opportunity, I am excited to do my best as a member to give back to my fellow comrades and community members.
khes
April 29, 2013 - 2:09pm
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With all due respect, cash is not "all you need" for a successful start up of a new business. Numerous start-ups fail because they have too much capital to burn and they don't pay attention to details that are infinitely more important than initial cash injections. Apparent lack of money is almost never the cause of a money problem: it's a symptom of a deeper seated issue. Cash or a loan will not solve the true problems, money will only delay the process of identifying and solving the core problem. Stay away from easily borrowed money. Cash can be dangerous, even lethal for a new business before its inner workings are thoroughly understood. Often more importantly, until you understand your inner workings of your own money psychology. Ignore this and subconscious dynamics of self-sabotage etc. can suffocate the most promising business idea. At any rate, good luck to you! --E.S.