Help available for military vets | Calvin Goings, Regional Administrator, Small Business Administration

Our nation’s veterans have served our country proudly and bravely. They are true American heroes, and we must make sure that we’re doing everything possible to support them, once they re-enter civilian life.

Our nation’s veterans have served our country proudly and bravely.  They are true American heroes, and we must make sure that we’re doing everything possible to support them, once they re-enter civilian life.

That’s why starting January 1, 2014 and for the rest of the fiscal year, the U.S. Small Business Administration (SBA) has set the borrower upfront guaranty fee to zero, for all veteran loans approved during that timeframe under the SBA Express program, which supports loans of up to $350,000.  That’s right, the guaranty fee is zero.

This program, called SBA’s Veterans Advantage, is available to small businesses owned and controlled by veterans; active-duty military participating in the Transition Assistance Program; reservists; National Guard members; or their spouses or the widowed spouses of service members or veterans, who died during service or as a result of service-related disabilities.

Our research shows that of all SBA loans that go to veteran–owned businesses, 73 percent are $350,000 and below.  The SBA Express Loan Program, which supports loans up to $350,000, is SBA’s most popular loan delivery method, with nearly 60 percent of all 7(a) loans over the past decade being approved through the program. Since the program’s inception, it has also been one of the most popular delivery methods for getting capital into the hands of veteran–owned businesses.

Our nation’s veterans are highly-skilled and highly-trained leaders in their communities, and so it makes sense that after serving their country, veterans would become entrepreneurs and small business owners.

We look forward to continuing to reach out to them through our 68 field offices across the country, including the Seattle District Office at 206-553-7310, the Boise District Office at 208-334-9004, the Portland District Office at 503-326-2682, the Alaska District Office at 907-271-4002 or the Veteran Business Outreach Center at 206-324-4330.

More in Business

Enumclaw opens new preschool, now enrolling students

Classes for two different age groups are being offered.

Cost matters when businesses hire | Don Brunell

It’s not just wages, but benefits, that companies must consider when hiring or retaining workers.

Military also adjusting to worker shortages | Don Brunell

There are just fewer qualified people in the employment pool to fill jobs which require higher educational standards, more skills, a willingness to work hard, and the dexterity to be part of a team.

Firehouse Pub: slight change of address but atmosphere remains the same

It was quite the project, renovating the pub’s new home.

Enumclaw’s QFC debuts home delivery service

The first order is free, but other orders will come with a charge.

Boeing’s venture into hypersonic jets | Don Brunell

The company’s come a long way since nearly crashing the company with its first attempt at supersonic flight.

Avoiding trouble while Tweeting | Don Brunell

Your social media can hurt you or help you when looking for a job.

Lampson beating odds for family-owned businesses | Don Brunell

According to The Family Firm Institute, only about 30 percent of family-owned businesses survive into the second generation and fewer than 12 percent are still viable into the third generation.

Much-needed dose of Yogi Berra’s wisdom | Don Brunell

We need less sarcasm and to alleviate the vilification of one another that we constantly witness in the news and on social media.

Trade wars hit state’s cherry growers hard | Don Brunell

Earlier this year, President Donald Trump imposed a 25 percent tariff on $34 billion of Chinese imports to punish China for its alleged predatory tactics toward American technology companies.

Columbia River treaty talks too vital to ignore | Don Brunell

The United States and China are currently renegotiating the Columbia River Treaty.

Bellevue company patent infringement win gives small investors hope | Don Brunell

Until recently, our courts have been little help to patent owners.