SBA Loan Patriot Express Pilot Program

The SBA Loan Patriot Express Pilot Program was created expressly for members of the Armed Forces and their spouses and touts the fastest turnaround times for approval, the lowest interest rates offered by the SBA, and more flexible considerations regarding collateral.

How Is It Different From Other SBA Loan Programs?

The primary differences between this small business loan and others are the eligibility criteria, conditions regarding collateral and its low interest rates. The patriot express pilot program is reserved for veterans, those active duty service members who are eligible for the military's transition assistance program, disabled service veterans, reservists and National Guard members, as well as the spouses and widows of service members. On top of this, the eligibility criteria for the business itself must conform not only to standard SBA regulations, but must also be under 51% ownership or controlled by a veteran, active duty, potential retiree, reservist or National Guard member. And these only qualify if honorably discharged where applicable.

The application and approval process of this SBA loan program boasts an astonishing turnaround time of only 36 hours! Moreover, lenders are not required to take collateral for loans below $25,000 and may use their existing collateral policies for loans anywhere between $25,000 and $35,000.  Any small business loan over $350,000, however, requires the lender to take all available collateral as a security.