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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

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

Answer:

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.