Is there any experience with VA small business loans?

2015-09-01T19:50:21-04:00

I have been throwing the idea of starting a small business. I have not written a business plan so the idea is still very much in the infantile state. I have Googled VA loans and there is not a whole lot out there about them and the VA website does not explain it well. Does anybody have a VA business loan? Thoughts on it if you do?

Response by 1SG Private RallyPoint Member made Sep 1 at 2015 7:59 PM

2015-09-01T19:59:12-04:00

Good question. I wasn't aware the VA did Business loans. I would like to found out about that myself.

Response by Sgt Aaron Kennedy, MS made Sep 1 at 2015 8:33 PM

2015-09-01T20:33:42-04:00

I get the impression that the VA itself doesn't "sponsor" business loans, but perhaps the federal government might?

I do know that "Veteran Owned" is a qualifier in the procurement process, when dealing with the government itself though.

Response by SPC Joshua Heath made Sep 2 at 2015 9:41 AM

2015-09-02T09:41:27-04:00

From what I understand, the loan support is actually through the SBA, but there are benefits for being a Veteran in that system. I agree, its not very clear anywhere.

Response by CPT Cameron Smith made Sep 2 at 2015 6:17 PM

2015-09-02T18:17:29-04:00

The VA doesn't provide business loans, but you do get special preferences as a Veteran when you apply for a loan through the Small Business Administration. Usually the benefit is express approval. This link has some great info: https://www.sba.gov/blogs/business-loan-opportunities-military-veterans-2014