Last week the Small Business Administration announced a streamlined loan product, the Patriot Express Pilot Loan Initiative that is based on the SBA Express Program, but with enhanced guarantee and interest rate characteristics.
Another loan program is hardly a devastating news event, but as written about in Bush Abandons Manufacturing, the President and Congress is currently in an anti-business mode. Funding for programs and agencies that aid small business has been cut drastically while taxes and regulatory burdens have increased.
The funding amounts in this program are minimal, not sufficient to allow for a quality Real Estate purchase, it is available to millions of veterans, reservists and their spouses.
I’ve written in Employers Snubbing Reservists & Renewed Call For Reservists Legislation about the dire need for legislative change in the laws regarding reservists. The current law punishes small business and puts a reservist’s application at the bottom of the stack instead of the top, where they belong.
Unfortunately even the SBA Press Release is politically motivated:
Note the typo in their Press Release, they must have been in a hurry.
"SBA thanks the Presidential Task Force on Returning Global War onTerror Heroes for its guidance and hard work and Veterans Affairs Secretary Jim Nicholson for his devoted leadership,"
For information on the program, follow these links: Patriot Express Pilot Loan Initiative & SCORE Web Site