It’s Veterans Small Business Week (Nov. 2-6), time to honor the men and women who served our country and then turned their dedication to starting and growing a small business.
There are an estimated 2.4 million veteran-owned small businesses in the U.S., which generate $1.2 trillion in revenue and support nearly 6 million jobs. Click on the Veterans Mean Business image for more eye-popping statistics!
In 2015, CDC Small Business Finance provided over $37 million in loans to veteran-owned small businesses, which anticipate creating/retaining nearly 600 jobs.
CDC honors veteran business owners through our the VetLoan Advantage program which includes special fee reductions and rebates.
For Veteran entrepreneurs approved for an SBA-504 loan, CDC Small Business Finance will present the borrower a cash rebate of up to $3,000 which will be awarded to help offset certain loan expenses. With low rates still available that are locked in for the life of the loan, the savings to the borrower are considerable.
The Community Advantage Loan Program provides financing up to $250,000 for working capital, equipment, inventory, tenant improvements and business acquisitions. Fees include an SBA fee of 2-3% and a packaging fee of up to 1%. CDC will waive the packaging fee for veterans which is a savings of up to $2,500!
Veterans who get an SBA Microloan will also see a considerable savings through this program. CDC will waive the 2% loan fee for a savings up to $1,000. That’s more money in a vet’s pocket for running their business.
If you’re a veteran who owns a business, the VetLoan Advantage program will save you money. Contact us today at 800.611.5170 or find a loan expert near you. For more info, visit our VetLoan Advantage page.