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The Best Business Loans for Veterans

Janet Gershen-Siegel
January 17, 2019
Business Loans for Veterans Credit Suite

Get the Best Business Loans for Veterans

The best business loans for veterans can be within your reach. Thank you for your service – this one’s for you. So, here are some of our favorite options.

The Best Business Loans for Veterans: Collateral-Based Financing

Collateral-based financing offers low rate financing. Also, personal credit quality and revenue don’t determine your approval. Some acceptable collateral includes:

  • Account receivables and purchase orders
  • 401k, IRA, stocks, and bonds
  • Inventory
  • Equipment

So the concept behind collateral-based funding is that a lender requires an assurance. Because an excellent assurance you will pay back a loan is when your property is at stake if you do not.

The Best Business Loans for Veterans: Cash Flow and Our Credit Line Hybrid

Cash flow financing is another great loan program for veterans. So it’s good if you have been in business one year or longer and have $10,000 in monthly revenue.

Our Credit Line Hybrid is available for entrepreneurs who are veterans, up to $150,000. Get approval with good personal credit. Also get 0% intro rates for 6 – 18 months… even as a startup.

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The Best Business Loans for Veterans: The Small Business Administration

The SBA offers some great loan programs including their 7(a) loan for working capital. For approval you’ll need:

  • 3 years of business and personal tax returns
  • Good personal, business, and bank credit
  • Also, collateral for 50 – 70% of what you’re borrowing
Learn business loan secrets and get money for your business. via Credit Suite BizLoanSecNotRecCJ2

SBA Express

The SBA Express program is a great loan program for veterans. You can get approval for a loan up to $350,000. Get rates of 4.5-6.5%. Get a line of credit good for 7 years. No collateral is required for up to $25,000.  There is a turnaround in 36 hours.

The Office of Veterans Business Development

The Office of Veterans Business Development offers many programs and services. So these are to support and empower aspiring and existing veteran entrepreneurs and military spouses.

The SBA provides training and mentoring, access to capital, and preparation for opportunities in federal procurement. And it also provides cultivation of connections within commercial supply chains and disaster relief assistance.

Boots to Business and Boots to Business | Reboot

So, Boots to Business is the two-step entrepreneurial program offered by the SBA on military installations around the world. So it is a training track of the Department of Defense (DOD) Transition Assistance Program (TAP). Also, Boots to Business |Reboot extends TAP’s entrepreneurship training on military installations. So now it goes to veterans of all eras in their communities.

Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)

The Veterans Women Igniting the Spirit of Entrepreneurship (V-WISE) is an SBA funded program. So it is provided by the Institute for Veterans and Military Families. Also, it includes online training. There is also a conference that harnesses the unique esprit de corps of women veterans and female military spouses. And there is follow-on mentoring through a community of partners.

National Center for Veterans Institute for Procurement

The National Center for Veterans Institute for Procurement extends TAP’s entrepreneurship training on military installations. So now it goes to veterans of all eras in their communities.

Veterans Business Outreach Center (VBOC)

The Veterans Business Outreach Center (VBOC) provides entrepreneurial development services. So these include business training, counseling and mentoring for eligible veterans owning or considering starting a small business.

Leveraging Information and Networks to Access Capital (LINC)

The Leveraging Information and Networks to Access Capital (LINC) is an online matchmaking service.

It connects small business owners with nonprofit lenders that offer free financial advice. They also specialize in microlending, smaller loans (SBA Community Advantage), and real estate financing (SBA 504 loans).

SBA Veterans Advantage

SBA Veterans Advantage guarantees loans approval to businesses owned by veterans or military spouses.

Veterans Entrepreneurship Act of 2015

The Veterans Entrepreneurship Act of 2015 reduces the upfront borrower fee to zero dollars. So, this is for eligible veterans and military spouses. Also, it is for SBA Express loans up to $350,000.

Learn business loan secrets and get money for your business. via Credit Suite BizLoanSecNotRecCJ2

The Best Business Loans for Veterans: Military Reservist Economic Injury Disaster Loan Program (MREIDL)

The Military Reservist Economic Injury Disaster Loan Program (MREIDL) provides loans up to $2 million. So these go to eligible small businesses. Also, they are to cover operating costs that cannot be met. That is because of the loss of an essential employee called to active duty in the Reserves or National Guard. This one comes directly from government benefits.

The Best Business Loans for Veterans: Alternative Lenders

If you have good personal credit and tax returns for 2 years that show a profit, try alternative lenders. Because they have programs that may work. Get approval with rates of 7% or lower. Also, lenders will want to see a profit on your tax returns.

Learn business loan secrets and get money for your business. via Credit Suite BizLoanSecNotRecCJ2

Takeaways: The Very Best Business Loans for Veterans

The best business loans for veterans could be within your reach. The best business loans for veterans are out there. Not investigating them means you’re leaving money on the table. Many thanks for your service. This is for you.

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