Sunday, May 22, 2011

Business Loans for Veterans

According to aBusiness Loansthe success rate of businesses owned by veterans is much higher than other businesses. Recognizing this fact, the government has made provisions that allow business loans for veterans. The federal government not only gives start up capital but also gives loans for expansion, inventory, etc. Military reservists can also accrue loans from the government at low lending rates. The congress also enacted the Veterans Entrepreneurship and Small Business Development Act of 1999 to protect the businesses of reservists when they were called for active duty. This act also has provisions that enable veteran loans and assistance for service disable veterans who want to be entrepreneurs.

The Department of Veterans Affairs has also initiated the Center for Veterans Enterprise (CVE) which provides assistance to veterans looking for or expand their business. Private financial institutions also provide loans to veterans as statistics show that they are more likely to succeed in their business ventures. When taking a loan from a bank ensure that your business proposal has all the requisite information.

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