While the 4th of July is fresh in our minds, CDC Small Business Finance has recommitted to honoring veteran small business owners by offering the Vetloan Advantage program, which features special rebates on SBA loans.
According to the U.S. Small Business Administration (SBA), veterans are at least 45 percent more likely than those with no military experience to be entrepreneurs and often times face challenges in raising capital or getting a conventional loan.
Veteran entrepreneurs approved for an SBA-504 loan – financing designed for buying a building – can receive a cash rebate of up to $3,000 to help offset loan costs.
The SBA Community Advantage Loan Program provides financing up to $250,000 for working capital, equipment, inventory, tenant improvements and business acquisitions. CDC will waive the packaging fee for veterans, a savings of up to $2,500.
Veterans who get an SBA Microloan will also benefit from considerable savings. 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 one of our loan experts near you or call 800.611.5170. For more info, visit our VetLoan Advantage page.