SBA Veteran Loan Requirements
Business Loans, Small Business Loans, Business Loan
SBA (Small Business Administration) of US has set new measures for small business loans for veterans. The SBA Veteran loans are authorized under the SBA Express program and they can be up to $350,000. SBA took this initiative in the month of January for the current fiscal month. According to this program Veteran loan borrowers won’t pay any upfront fee for the loan up to $350,000, in this way loan has become cheaper for the borrowers. Veteran borrowers even get the capital into their hands through this SBA Express Program. Even SBA provides business counseling, training and business development opportunities to the veterans through government contracts.
To qualify for this program, veteran must have 51% or more ownership, of the business, or the individual controller from one of the below listed categories:.
Service- Disabled Veteran.
National Guard Member or Reservists.
Veteran (Not discharged dishonorably).
Any Active Duty Service Veteran.
Spouse of a Veteran .
In order to apply for Veteran loan Several documents may be required by the borrower, which can prove his or her eligibility for the loan. Following are the must have documents:.
1) Form DD 214 Copy, provided for any non dishonorably discharged veterans.
2) Form 214 Copy or DVA Documentation to prove the service connected disability of the Veteran.
3) Copy of any DD Form2 or DD Form 2648 or DD Form 2648-1.
4) United States ID card, DD Form 2.
5) For spouse, the evidence of current spouse status and Dd Form 2.
6) DD Form 1173, Member ID card and evidence of current spousal status
, Business Loans
, Commercial Loan
, Small Business Loan
, Small Business Loans