“Providing opportunity for returning military veterans is a core pursuit of BusinessUS.” – Norris Lozano, CEO
This article demonstrates a true commitment to hiring veterans:
“Kevin Knight planned to use the U.S. Army as a way to escape the troubled Hampton, Virginia, neighborhood where he grew up. But when a training accident—he was hit in the head with a training stick—detached both his retinas, causing blindness in one eye, his military career was over. That forced him to change gears and find his future in the world of business.”
On November 8th, the SBA announced new measures to help get small business loans into the hands of veterans by setting the “borrower upfront fee” to zero for all veteran loans up to $350,000 authorized under the SBA Express program. This fee reduction will start on January 1, 2014 and continue through the end of the fiscal year.
“We’re pleased to see the SBA reducing fees on lower-dollar loans to provide US Military veterans better access small business financing,” said Norris Lozano, CEO of BusinessUS. “I’m sure I’m speaking on behalf of all lenders – and all Americans – in saying we should keep finding innovative ways to honor those men and women who have served by smoothing the transition between military and business life.”
The SBA fee reduction for veteran small business loans under $350,000 will begin January 1, 2014 and continue for the 2014 fiscal year.
Veterans Small Business Week is an SBA initiative to reach out to veteran entrepreneurs and small business owners. “The SBA is acutely focused on making sure our nation’s veterans have the tools and capital they need to start or grow a business,” says Norris Lozano, CEO of BusinessUS, “We fully support these efforts to assist in the transition from military to civilian life, including small business lending.”
According to the U.S. Census, nearly one in 10 small businesses is veteran-owned. And, these 2.4 million veteran-owned small businesses employ almost 6,000,000 people and generate more than $1,000,000,000,000 ($1 Trillion) in receipts!
Veterans Small Business Week will be held from November 4 to 11.
If you’d like to learn about BusinessUS Veterans Programs, please visit our website, www.bizbank.us, and this page.