When you’re ready to finance your business, there are several ways to approach it. In our “Ultimate Guide for Veteran-owned Small Businesses,” we outline the three main types: self-financing, equity, or debt financing. And debt financing is the route many companies take once they’re established businesses with some revenue under their belts.
As a reminder, debt financing can include both secured and unsecured loans and lines of credit. It’s for the veteran business owners that need lines of credit that we’ve specifically created the Patriot Express Line of Credit.
Previously, the SBA offered the Patriot Express Loan but it expired in 2013, which was unfortunate. It was a very popular program that funded $663 million in SBA-guaranteed loans. Veterans could get large loans at very low interest rates and low fees.
Fortunately, a few other programs exist to help veteran business owners get funding. The SBA has a similar program called the SBA Express Loan Program. Additionaly, StreetShares has created the Patriot Express Line of Credit, which is not associated with the SBA.