• Skip to content
  • Skip to footer
  • Home
  • About
  • VA Mortgage Rates
  • VA First Time Home Buyer
    • How to Apply
  • VA Home Loan
    • VA Refinance Loan
      • VA Cash Out Limits
      • VA Debt Consolidation
        • Debt Reduction Calculator
      • VA Streamline IRRRL
  • VA Jumbo Loan
    • VA County Loan Limits
  • VA Loan News and Information
    • VA Loan Closing Costs
    • VA Loan Requirements
    • Documents Needed for VA Loan
    • VA Eligibility
      • Eligible Reasons to Use your VA Eligibility
      • Ineligible Reasons
    • VA Funding Fees
    • VA Energy Efficient Mortgage Guidelines
    • VA LOAN FAQ’s

VA LOAN LENDING

Helping Veterans Save Money on VA Loans

  • Speak to a VA Specialist: 800.749.8155

Veteran Business Loans

August 11, 2018 By Bruce Glassinger

Can I get a VA Business Loan?

Can I get a VA business loan?
If you’re wondering if you can get a VA business loan, the quick answer is “No”. However, there are small business loan programs available that specifically benefit veterans. I’ll talk a little bit about the Small Business Administration loan and how it can benefit veterans. Getting the right loan for your business and one that benefits you the most financially is of the upmost importance. Below I'll go over some points to the SBA program. For more information, consult an SBA Loan Specialist.

Speak to an SBA Specialist

WHAT IS AN SBA LOAN?

An SBA loan is small business loan guaranteed by the Small Business Administration. It’s issued only by participating lenders. Most of these lenders are banks.

HOW MUCH CAN I BORROW?

The SBA can guarantee up to 85% of small business loans equal to or less than $150,000. They guarantee 75% of loans greater than $150,000. SBA says the average loan amount was approximately $375,000 in 2016. The program’s maximum loan amount is $5 million.

HOW LONG IS THE REPAYMENT TERM?

According to the SBA, the loan term is determined on how you plan to use the funds:
• Working capital or daily operations: Loan terms are seven years
• New equipment purchases: 10 years
• Real estate purchases: up to 25 years
Determining the usage can be an advantageous strategy for the business owner. A longer term means a lower interest rate and lower regular payments. This then leaves more money to allocate towards other business expenses allowing more flexibility and continued growth.

IS THERE AN SBA LOAN FOR VETERANS?

Now you know there is no such thing as a VA business loan, you’re wondering if there is anything that may help veterans. There actually is a loan tailored to helping veterans. SBA has implemented a program specifically to assist veterans. The main benefit of the program is that it sets the upfront fee to zero for all veteran loans authorized under the SBA Express program up to $350,000. It’s an amazing program and one you should certainly consult an SBA Loan Specialist for if you are veteran interested in obtaining an SBA loan.

Consult an SBA Loan Specialist

Get questions answered about SBA Loans
[wpforms id="5417"]

Filed Under: VA Loan Information, Veteran Business Loans

Footer

  • Home
  • About
  • VA Mortgage Rates
  • VA First Time Home Buyer
  • VA Home Loan
  • VA Jumbo Loan
  • VA Loan News and Information

© 2009-2019 VALOANLENDING.com · All Rights Reserved

VALOANLENDING.com is not a government agency or in any way affiliated with government agencies, including Veterans Affairs. In addition, VALOANLENDING.com is not a bank, broker or other type of lending institution. All information provided is at the sole discretion of the author. Any information collected on this site will be used for the purpose of providing additional information about VA loans.