Members of the military community who wish to conduct business in locations where they were stationed overseas can benefit from a new program of the U.S. Small Business Administration, according to Ray Gibeau, the SBA’s export finance officer based in Atlanta.
Mr. Gibeau told GlobalAtlanta that the Patriot Express Program, which is only several weeks old, exceeds the lending guarantees available under the SBA’s traditional Express Program, and encourages members of the military community to take advantage of all Georgia’s and the federal government’s programs to develop business overseas.
“So many of our military have been deployed abroad and have developed contacts who could help them get involved in international business,” Mr. Gibeau said.
He added that the definition of members of the military community also is broad including veterans, service-disabled veterans, active-duty service members eligible for the military’s Transition Assistance Program, reservists and National Guard members.
The spouses of those listed above also are included as well as the widowed spouse of a service member or veteran who died during service or of a service-connected disability.
Patriot Express loans may go up to $500,000 and qualify for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less and up to 75 percent for loans above $150,000 to $500,000.
Story Contacts, Links and Related Stories
U.S. Small Business Administration – Ray Gibeau (404) 897-6089