The Patriot Express Program is designed for small businesses that are 51 percent or more owned/controlled by veterans or members of the military community.
About the Program
| Maximum Loan Amount: |
$500,000 |
| Maximum SBA Guaranty %: | Follows SBA standard 7(a) guarantee percentages |
| Interest Rate: | Rate may be fixed or variable; lenders and borrowers can negotiate interest rate, but lenders may not charge more than 2.25 % over prime rate for loans of less than seven years and 2.75 % over prime for loans greater than seven years; lenders may charge 1 % more for loans of $50,000 or less and 2 % more for loans of $25,000 or less. |
| Eligibility Decision: |
Must meet standard SBA 7(a) loan eligibility and must be 51 % or more owned/controlled by:
|
| Revolving Lines of Credit: | Up to seven years with maturity extensions permitted at the outset. |
| SBA Turnaround Time | Within 36 hours |
| Forms: | Streamlined: Lender primarily uses own forms and procedures. |
| Collateral: | Lenders are not required to take collateral for loans up to $25,000; may use their existing collateral policy for loans over $25,000 up to $350,000, but must take available collateral for loans greater than $350,000. |
| Credit Decision | By lender. |
| Purchase | May request expedited SBA purchase on small loans or in situations where liquidation may be delayed. |
TM Holdings Group is a Commercial Mortgage Brokerage firm providing funding for all commercial property types. Specializing in Gas Stations and C-Stores.
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