Business loans for veterans – Get all the CASH YOU NEED!

in this video I will show you the three types of SBA loans available for veterans the types of businesses that can borrow for such loans and how much money you can get on each loan as a veteran we will cover that in much more [Music] hey everybody welcome to my channel I am your host Leon diverted business coach and outsourced CFO helping you scale your business if you're ready to scale your business to seven figures and beyond while creating the lifestyle and the freedom that you want please subscribe to this channel don't forget to hit the bell and you'll be notified every time new content comes out everybody this is Leo Lander birdie will clean an adviser's creating more profit more value more freedom for your business and in today's video we're talking about business loans for veterans the SBA provides three types of PA loans first is the SBA Express loan initiative for veterans this program is also open to non veterans but the SBA has a better nurse advantage firm that ways all the up from long guarantees for veterans who qualify for these loans and veterans can borrow up to $350,000 then there is the SBA 7m7 a loan program which is number two that provides up to five million dollars in funding again both for veterans and non-veterans however the veterans Advantage program applies to this loan as well provided upfront guarantee fees of zero for loans of $125,000 or less and a 50% reduction or guaranteed fees for vets the borrower amounts greater than 125,000 the SBA also provides counseling and training to go along with these loans to be borrowers to support in their business ventures number 3 it's called the military reservist economic injury disaster note which is very similar to the Eid L that is very popular for which is they want do to combat 19 this is for military service so hence MRE IDL this law provides working capital to businesses that could have met their obligations and continued me there are negations have we not had a catastrophe of some sort like we have the one we're having today eligibility for VA loans all active military personnel veterans service disabled veterans and their spouses and or widows are eligible for these loans veterans who receive a tense honorable discharge are not eligible for loan programs if you're an active-duty personnel with twelve months of separation or a retiree within 24 months of retirement you can qualify for an SBA Express loan product reservists and National Guard are also eligible as well the types of businesses that can borrow the businesses must be at least 51% owned by a qualified veteran according to the definition above which is you have to be active or recently honorably discharged most businesses meet the eligibility requirement as long as they come the business is not a pyramid scheme and that would be illegal so also gambling businesses or lending businesses are not eligible also and here's very important the business must be for-profit nonprofits don't qualify what can you use the proceeds for as you see here you can use it for working capital in your business which is kind of a blanket save it for anything that you need to require to keep out the operation of the business running you can use it for start-up costs if you're starting your business that is for profit anything that goes with this you know the the investment in the machinery the securing of the leaves and the tenant improvements all of those startup costs the incorporation of your business would be under startup costs number three you can use the proceeds for real estate purchases for your business this does not apply for residence this is your residence only for commercial real estate for the purposes of the business number four you can use it for inventory purchases you know if your business if you're in a manufacturing business and you have a need to provide inventory to buy inventory so you can actually manufacture your final goods then you can use it for that and can definitely use it for payable how much can I borrow well under the ex SBA Express loan you can actually borrow up to three hundred fifty thousand dollars under the 7a loan you can get up to five million dollars as we discussed earlier and for the military service economic injury disaster non-program you can get up to two million dollars this e is problems that are very very popular right now you can get it the the payments spread over 30 years and with a with an AP out of 3.75 that's not a bad deal so hopefully this was very very helpful to you if you're a veteran and there are so many opportunities for you to grow your business and we thank you so much for your service please comment below and let me know which of this loans would benefit you the most and why also if you want to join a community of like-minded successful entrepreneurs just like you then join our Facebook group at the link below where I share tips tactics and strategies how my clients are growing their businesses to seven figures and beyond 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