VA Loan Service
Availability of VA Business Loan If you are interested in a VA business loan, there are two options that you...Read More
Benefits of VA Business Loans There are some benefits of VA business loan; if you are a veteran who needs...Read More
A business which is small is the pillar of the United States economy. According to this Forbes article, in the...Read More
How to Get Started
va loans guidelines to get you up to speed. Check them out: VA Business Loan Eligibility Requirements VA Home loan and Business Loan.
To find out more information about VA loans and benefits, simply visit https://valoancentersandiego.com.
How to Apply
The first step in applying for VA Small Business Loan is to identify which one of the two loan types you qualify for. If you are a reservist
who has been called to active duty then you will be applying for the MREIDL, everyone else will be applying to the Patriot Express Pilot Loan Initiative which
we will be looking at first. The Patriot Express Pilot Initiative was set to expire in 2010, but its rate of success extended the benefit through 2013.
There are also options for spouses and windows to take advantage of this type of loan if they are interested in starting a small business.
Applying can be as simple as finding out if you are qualified and filling out the appropriate paperwork. If you have been discharged other than honorably
or less, you do not qualify for this loan. Keep in mind that the credit is provided from a bank or financial institution, not from the VA or SBA.
The Military Reservist Economic Injury Disaster Loan or (MREIDL) is an excellent benefit offered to reservists who are currently small
business owners. It often becomes difficult for a reservist to live a healthy life and care for their business if the threat of immediate deployment is
lurking right around the corner. Fortunately, the government understands the financial hardship that this causes. This loan does not end the day you
return from deployment either; it continues for up to one year after the member is released from active duty to ensure that they recover from
any financial loss. Evidence showing the need for this loan will be required, and if it is found that the individual has the necessary funds
to provide for their recovery, the use of an MREIDL may not be approved.