Patriot Express Loan
Agency Small Business Administration (SBA)
Program Description Loans can be used for start-ups, expansions, working capital, business-occupied real-estate purchases and other business related purposes. These loans typically have interest rates of 2.25% to 4.75%.
Funding Range $500,000 Maximum
Eligibility veterans, active-duty service members participating in the military’s Transition Assistance Program, Reservists and National Guard members, current spouses of the above, and the widowed spouse of a service member or veteran who died during service, or of a service connected disability.
Military Reserve Economic Injury Disaster Loans (MREIDL)
Agency Small Business Administration
Program Description Loans are to provide funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was “called-up” to active duty in their role as a military reservist. These loans are intended only to provide the amount of working capital needed by a small business to pay its necessary obligations as they mature until operations return to normal after the essential employee is released from active military duty.
Funding Range $2,000,000 maximum for 30 years fixed at 4%
Eligibility Business which a key employee has been called to active duty
