July 4th is a day America celebrates their independence. It is also a day that many reflect on the men and women that have served in our Nation’s military to help allow us our freedom. In honor of these Veterans of the United States Military, the VetLoan Advantage was born. Veterans looking to buy, build or grow their business can now receive cash savings in three ways with this new loan program.
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. Particularly, the appraisal and environmental fees. 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%. In support of the Nation’s Veterans, CDC Small Business Finance will waive the packaging fee for veterans which is a savings of up to $2,500!
Wait! There’s more! The SBA Microloan‘s Veteran participants will also see a considerable savings through this program. We will waive the 2% loan fee for a savings up to $1,000. That’s more money in your pocket for the important things you need to run your business.
It’s all our big way of saying THANK YOU to our Veterans for all that you do and have done to help make our country the greatest on earth. Happy Fourth of July Veterans! Happy Independence Day to us all!