According to the Small Business Administration, an estimated 2.4 million business are owned by military veterans. These business are responsible for a significant impact on the nation’s economy, creating jobs for nearly 6 million Americans in industries ranging from construction and manufacturing to agriculture and real estate.
It’s no surprise that the same attributes exhibited by military service men and women are also noteworthy traits of successful business owners: commitment, responsibility, sacrifice and a drive to succeed. Tenet Financial Group is honored to serve our military by helping these entrepreneurs purchase an existing business or startup a new business through the Veterans Freedom Loan Program, a $150,000 working capital funding option for active duty military, veterans and their spouses, available through the Small Business Administration.
The Veterans Freedom Loan Program information includes:
- Franchises, Home Based, Existing & Start-up businesses qualify
- Application Only (Upon Pre-Approval financial package submitted for verification)
- Approval within 1 business day
- No Bankruptcies, open Judgements or Tax Liens
- 685+ Credit Score
- Limited bank inquiries with-in the past year
- Provider/Packaging Fee due upon Pre-Approval from the lender
Loan details:
- Document Verification (Military, SBA Forms & Financials
- Verification of military status (i.e., DD-214 or current LES)
- Minimal net worth required
- 10% Cash Injection & 20% Cash Reserve of loan amount
- SBA Guarantee Fee Waived
- Bank Closing Fees netted from loan proceeds
- 10 Year Term, Fully Amortized
- No Pre-Payment Penalty
- Variable Interest Rate based on WSJ Prime Lending Rate + 2. 75%
- Personal Guarantee required
- Closing within 30 – 45 business days
Connect with Tenet Financial Group today to learn more: info@tenetfinancialgroup.com or 1-888-901-3335, x. 9.