Known as the SBA Patriot Express Loan Program , its aim is to help start and grow the business of people whose military service is over. And with as much as 14% of all businesses in the US owned by veterans, it’s an aid package that will guarantee at least $1 billion every year to these small businesses that are eligible.

One of the benefits of the SBA Patriot Express Loan Program is that it’s not just limited to the military personnel themselves. It’s also open to veterans and vets disabled while in service; National Guard and Reservists; currently serving military personnel who are part of the Transition Assistance Program to help them cope after military life; and even the spouses of any of the eligible personnel, whether still living or not. Altogether, the new program offers an extensive package for those that qualify.

Thanks to the wide range of network business partners that the SBA has built up over the years, the features and incentives that they’re able to offer the vets include:

* Loans up to the value of $500,000
* Guarantee (upon qualification) of a maximum 85% on loans of $150,000 and lower, or up to 75% guarantee for those loans between $150,000 and $500,000
* Lower interest rates, normally between 21/4% to 43/4%
* Counseling services and expert advice from respected partners like SCORE, Women’s Business Centers and Small Business Development Centers to name just a few

Yet the aid doesn’t stop there. As well as the financial package that the SBA Patriot Express Loan program offers, there are also some extremely practical guides as well. For example, they can offer you advice on how to win high-paying government contracts, thanks to their dedicated Government Contacting and Business Development office. There’s also help in putting together a business plan and finance plan, and much more.

Perhaps best of all is that the program will offer loans as high as $1.5 million, should your business be affected by an injury whilst still serving your country in the Reserve Forces. Similar to a Business Protection insurance cover, it ensures that you won’t be too adversely affected should something prevent you from running your business. Indeed with all the features that it offers, the SBA Patriot Express Loan program is the ideal partner to people who have served their country, and now want to help in its success.