SBA loans for vets

searcher profile

August 27, 2024

by a searcher from University of Central Florida in Virginia, USA

Has anyone had any experience with SBA loans for vets? Specifically, would like to know if there are any advantages or programs out there that would apply only to vets when applying for an SBA loan as part of the acquisition process? Would love to hear thoughts.


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commentor profile
Reply by a searcher
from Keller Graduate School of Management of DeVry University in San Francisco, CA, USA
The Small Business Administration (SBA) Express loan program offers veterans and their spouses a way to get financing for their businesses quickly and with fewer fees.
1) Fees: Veterans pay no upfront fees on these loans. Approval time: The SBA typically responds to loan requests within 36 hours.
2) Repayment terms: Repayment terms for lines of credit are up to seven years, and between 10 and 25 years for term loans.
3) Search - sba express loans for veterans for more info
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Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
Unfortunately on the standard SBA 7A loan product there are no direct benefits from being a veteran. They used to have fee waivers and other things but those all went away. However, there are many lenders that really like working with veterans, so being a veteran will sometimes help encourage a lender to get a tight deal done and may provide you slightly better pricing from the lender. But overall there is no direct benefits on the SBA 7A loan. I hope this helps to clarify.
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