What is the Veterans Advantage Program?
The Veterans Advantage program is a permanent SBA 7(a) program. It supports small businesses that are at least 51% owned by a veteran or Active Duty service member, or by their spouse or widow.
Certain details of the program change year to year, but the benefits are always geared toward giving veteran-owned small businesses a financial advantage.
Until September 30, 2018, SBA 7(a) VA loans of up to $125,000 have:
- No fees
- Maturity of 10 years for equipment and up to 25 years for real estate
- 85% SBA guarantee
Loans from $125,001 to $350,000 have:
- Reduced fees, up to 50%
- 75% SBA guarantee