What Kind of VA Business Loans are Available?
If you are interested in a VA business loan, there are two options that you need to be aware of – the Patriot Express Loan and the Military Reservist Economic Injury Diaster Loan (MREIDL). The Obama Administration started the Patriot Express Pilot Loan Initiative. Along with the loan, the Small Business Administration also provides counseling and training. Originally set to expire in 2010, the Patriot Express Loan is now extended through 2018 and may be extended again.
The MREIDL is designed to help businesses where the owner or other “essential employee” is called for military service. This VA business loan is designed to help the company meet costs that have resulted because of the loss of this employee