The Small Business Administration recently launched a new initiative to help veterans get small business loans.
SBA’s Express program allows veterans to take out loans up to $350,000 with no upfront fees starting Jan. 1, 2014, and continuing until Sept. 30, 2014.
Currently 73 percent of all SBA loans that go to veterans are $350,000 and below.
In addition, SBA provides veterans access to business counseling and training, capital and business development opportunities through government contracts. In fiscal year 2013 SBA supported $1.86 billion in loans for 3,094 veteran-owned small businesses.
According to statistics from 2007, the most recent available, South Carolina has 46,445 veteran-owned businesses.
For more information, contact SC SBA veteran entrepreneurship specialist Frank Anderson at 803-253-3118 or Floyd Bryant at 803-765-5907.
