While Memorial Day is fresh in our minds, let’s remember our veteran business owners. According to the U.S. Small Business Administration, 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).
CDC Small Business Finance is honoring our veteran business owners by offering the VetLoan Advantage program which includes special 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!
Wait! There’s more! 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.
It’s CDC’s way of saying THANK YOU to our Veterans for all they’ve done and do.
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.